Bill Moyers speaks to two well-versed voices — NEW YORK TIMES business and financial columnists Gretchen Morgenson and Floyd Norris. Their conversation ranges from the mortgages to derivative, the SEC to the Glass-Steagall Act.
Very good basic overview of some of the issues that have metastasized into our current financial crisis.
The most significant financial issue in 100 years, but I know we can't say the "D" word.
Paulson is floundering - "We don't fix the roof during the hurricane, we just try to deal with the winds."
Part 1
Part 2
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Our "free market" has never really been totally free. Free market solutions, when implemented in a non-free market, cannot work for very long. And then when they fail, "the idea of the free market" gets blamed.
So now this has brought us all to the edge of a cliff. Our non-free market will be blamed for being too free. And the solutions we will see from here on out will make it less free.
As the Mogambo Guru likes to say, "we are freaking doomed!"
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