Thom Hartmann: How to Cut Wall Street Down to Size

[thomhartmann]

Run time: 09:34 https://www.youtube.com/watch?v=AJKcPyJOMbM   Posted on YouTube: June 15, 2011 By YouTube Member: TheBigPictureRT Views on YouTube: 51   Posted on DU: June 15, 2011 By DU Member: thomhartmann Views on DU: 686

 
Sarah Anderson, Director, Institute for Policy Studies joins Thom. Wall Street
has grown from being one-tenth of our economy in 1947 - to more than twenty
percent of our economy today. And during this surge in profitability - Wall
Street's "mad scientists" have mixed together an array of complex financial
concoctions like credit default swaps and collateralized debt obligations to
make more and more money. But perhaps the most frightening Wall Street creation
is what's known as high-frequency trading. But this new economy dependent on
high frequency trading and exotic financial instruments has consequences - as we
learned in the 2008 financial crisis that exposed the underlying danger of
complex derivatives. And as we learned last year when high frequency trading
computers caused a flash crash of 1,000 points on the stock market. So how do we
reign in Wall Street - and keep our economy safe from it's tricks? Sarah
Anderson has an idea - and it has something to do with a stet tax.

The Big Picture with Thom Hartmann on RT TV & FSTV "live" 9pm and 11pm check
www.thomhartmann.com/tv for local listings

[bulloney]

1. Think the MSM will acknowledge the June 22 Wall Street rally Ms. Anderson talked about?

No, but if Sarah Palin talks to a couple of rednecks picking and scratching their asses in Bumfuck, Missouri, that'll be the lead story.