Crony Capitalism, Part 2

(10:00PM EST – promoted by Nightprowlkitty)

Yesterday in Crony Capitalism we heard Dr. Robert Johnson of the United Nations Commission of Experts on International Monetary Reform under the Chairmanship of Joseph Stiglitz, and Executive Director of the Institute for New Economic Thinking (INET), talking with Real News CEO Paul Jay about the causes of the economic crisis and about some of his suggestions for banking and financial reform.

Today in Part 2 Johnson and Jay continue the discussion addressing the question of whether the White House governs Wall Street or whether it’s the other way around…

Real News Network – December 30, 2009

Wall St: More complicated means more profitable

Robert Johnson: Does the White House govern wall street or the other way around?


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    • Edger on December 30, 2009 at 6:32 pm

    • TMC on December 30, 2009 at 6:42 pm

    the answer to that question is simple. Yes. It is very clear from the line up at Treasury and the Fed that the White house is Wall St’s sock puppet.

  1. Instant classic.

  2. Complexity is mostly for opacity,  which together with trading off exchange facilitates trading profits.

    Complexity also provides a cover story to hide the fraudulent nature of the securities that were created. They hope that we believe that they did not know what they were doing. They did.

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