The relationship between our financial services industry, our government, and us, ordinary citizens who have repeatedly suffered the consequences of the avarice and incompetence of this industry, has always been troubled. Booms, busts, crashes, bubbles, depressions, inflation. Since the beginning of the 2008 Great Recession we have hoped that the government would return to applying some real rational restraints on the financial system. To be honest, with both political parties deep in the pocket of the industry, this is probably merely wishful thinking.
The Secret recordings of Carmen Segarra
While you are listening to this report of regulators captured by the industry they are paid to supervise, think of the endless series of Wall St and corporate chieftains who have worked for every President of our life time. So, don’t miss the current This American Life story about the Federal Reserve: “The Secret Recordings of Carmen Segarra” http://www.thisamericanlife.org/radio-archives/episode/536/the-secret-recordings-of-carmen-segarra