Bill Moyers interviews super-bright Pulitzer Prize-winning New York Times reporter and columnist Gretchen Morgenson on the banking crisis and flaccid congressional response.
“When I was living through it, watching it in terror literally at my desk at The New York Times because it really was on the precipice, there we were, I thought to myself, “We will address this because this is so frightening and so scary and so damaging to this country.” And I thought we will address it because this is the big one.
This is the big crisis that we’ve been leading up to. Long-Term Capital Management didn’t really destabilize the system, the internet bubble didn’t really destabilize the system, this was the big one. And yet the response was so lame and so ineffectual that it absolutely will happen again.”
Gretchen Morgenson on Industry Influence from BillMoyers.com on Vimeo.
You can read the transcript here.
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