Bill Moyers interviews Simon Johnson and US Rep. Marcy Kaptur

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rowmat's picture
rowmat
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Bill Moyers interviews Simon Johnson and US Rep. Marcy Kaptur

October 9, 2009
Just over a year after economic calamity brought promises of reform from Washington, has Wall Street really changed? Former International Monetary Fund chief economist Simon Johnson and US Rep. Marcy Kaptur (D-OH) report on the state of the economy.

http://www.pbs.org/moyers/journal/10092009/watch.html

SoonerMax's picture
SoonerMax
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Re: Bill Moyers interviews Simon Johnson and US Rep. Marcy ...

I have wondered what I was going to write for my first post.  I am an "educated" guy and I have learned more since coming here than I could have imagined.  This community feels right and I think has a great understanding of what awaits us all.  Thank you.

This interview has been more impactful to people that I have wanted to wake up than anything I have been saying, showing, teaching, or pleading.

They want more after this.  It opened the floodgates for my mother who believes that things will "work out".  She saw all of the GS connections on Beck's chalkboard (which was impactful).  When Johnson says the same thing on Moyer's show, well, it starts to be "credible".

Good Stuff.  It does not have to be a Democrat or Republican thing.  Getting too late for that.

 

DrKrbyLuv's picture
DrKrbyLuv
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Re: Bill Moyers interviews Simon Johnson and US Rep. Marcy ...

Hello rowmat,

Thanks for the nice dig, this is a startling admission by a Congresswoman:

  • MICHAEL MOORE: We're here to get the money back for the American People. Do you think it's too harsh to call what has happened here a coup d'état? A financial coup d'état?
  • MARCY KAPTUR: That's, no. Because I think that's what's happened. Um, a financial coup d'état?
  • MICHAEL MOORE: Yeah.
  • MARCY KAPTUR: I could agree with that. I could agree with that. Because the people here really aren't in charge. Wall Street is in charge.

Moyers follows up with the perpetrators of the coup d'état:

  • BILL MOYERS: Let's look at this story that I just read from the Associated Press this week about how Treasury Secretary Geithner is on the phone several times a day with a select group of very powerful Wall Street bankers, especially Citigroup, J.P. Morgan, Goldman Sachs. He will talk to them when Members of Congress have to leave a message on the answering machine. And these are the bankers who helped bring on this calamity and who are now benefiting from it. What does that say to you?
  • MARCY KAPTUR: That says to me that Wall Street and Washington is a circuit. And because Mr.Geithner headed the New York Fed that that historic relationship, unfortunately, continues. And it gives them special access and special power to influence policy.
  • SIMON JOHNSON: Well, I think it really tells you how the system works. The system is based on access and is based on what on Wall Street shaping Washington's view of what's important.
  • It's the people who are very close to Mr. Geithner before when he was the head of the New York Fed. Before he became Treasury Secretary. These people have unparalleled access. And in a crisis, when everything is up for grabs, you don't know what's going on, the people who will take your phone calls, right, in government and people who are going to be standing in the oval office, making the key decisions. That's the heart of the system. That's the heart of how you get your agenda through, by changing their worldview.
  • MARCY KAPTUR: And they also move people. In other words, Mr. Geithner came from the New York Fed, he came from Wall Street, and he becomes Secretary of the Treasury. His predecessor, Mr. Paulson, came from Goldman Sachs, and he becomes Secretary of Treasury. You can go back decades, and you will see that there's this revolving door between Wall Street and Washington. And I recently asked Chairman Bernanke of the Federal Reserve, 'Let me ask you a question. Would you be willing to consider a reform where the Cleveland Fed would have equal power to the New York Fed, in terms of how the Fed is run?' And his answer was, 'No.'

SoonerMax wrote:

I have wondered what I was going to write for my first post...This interview has been more impactful to people that I have wanted to wake up than anything I have been saying, showing, teaching, or pleading.

They want more after this. It opened the floodgates for my mother who believes that things will "work out". She saw all of the GS connections on Beck's chalkboard (which was impactful). When Johnson says the same thing on Moyer's show, well, it starts to be "credible".

Welcome aboard SoonerMax!  It's great to have another "red pill" member of the forum.

I agree, these interviews bring credibility to the big issue...a financial coup d'état has usurped our government.  This began in earnest in 1913 with the federal reserve act.  They operated in the shadows for 90 years but now the parasitic beast has come out in the open as the obvious power.

It's funny you mentioned your mother and Glen Beck, my mother watches him too and is very much with it.  I finally got her to understand the federal reserve around a year ago and since that time she has pieced much together.  She even figures out what Glen Beck won't say and why.

It makes me proud that at her age, she is becoming an activist.  I don't plan on taking her to Washington DC to join me in the End the Fed protest scheduled for November 22 but I'm sure she will be wearing an End the Fed shirt that day!

Larry

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CB
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Re: Bill Moyers interviews Simon Johnson and US Rep. Marcy ...

This is a great interview! When put together with this set  of interviews with John Perkins (Confessions of an Economic Hitman):

Part I

Part II

they give a fairly complete picture of the world of "high" finance and foreign (economic) policy.

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