New Ep is Up!
Bankers brought the global economic system to its knees in 2007 and nearly did the same in 2020. Both times, the US government bailed out the banks and left them in control. How can we end this cycle of trillion-dollar bailouts and make finance work for the rest of us? Busting the Bankers' Club confronts the powerful people and institutions that benefit from our broken financial system—and the struggle to create an alternative.
Today we have Professor Gerald Epstein, author of Busting the Bankers’ Club: Finance for the Rest of Us. It was a great talk, about the history of banking regulation, the revolving door between government and industry that poisons our financial system, central bank independence, a fascinating concept called public banking, and my favorite topic, bailouts, what does that word even mean, who is getting bailed out, and WHY. Listen up, Jon Stewart and the Daily Show, you should have Professor Epstein on, because that last question boils down to privatization of profits and socialization of losses, a favorite topic of Mr. Stewart’s.
Follow Professor Epstein on LinkedIn or at UMass Amherst. Buy the book here or wherever books are sold.