It is important for thinking people to acknowledge that the financial sector that continues to hollow out the real economy, social stability and the rule of law today, has been aided and abetted by both political parties, over the past 30 years. Meaningful change requires more than just swapping in different speech-reading figureheads.
Critical first step is to re-separate investment sales from financial advisory and deposit-taking banks (Return to Glass-Steagal Act was proposed in 2013), and then to jam the revolving door between financial sector jobs and government.
On Reality Asserts Itself, Thomas Frank, author of Listen Liberal, says Democratic Party administrations allowed the big banks to run economic policy and create exploding income inequality – with host Paul Jay. Here is a direct video link.
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