Bill Moyers Is Back! (Part 1 - On Politics)
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Bill Moyers Is Back With Hard Hitting Journalism
(Image source)
This page is an important introduction to today's political situation as covered by the world-reknown journalist, Bill Moyers.
Bill Moyers retired on April 22, 2010. The following is a news story about it..
Article extract:Bill Moyers Retires
"Who but Bill Moyers could have devoted so much time to the work of Joseph Campbell and Robert Bly; done television's most hard-hitting reporting on the Iran/Contra scandal; investigated the media's failure in Iraq; defined the human impact of economic inequality; examined the ability of corporations to manipulate the "public mind"; evaluated the real-world impact on local communities of corporate-driven "free trade" agreements; devoted hours and hours of TV to a poetry festival, to the Book of Genesis, to the sources of addiction and to the relationship between the environment and religion, etc.? The variety of topics, moreover, is only half the story. Moyers's methods were unique. Where else but on a Bill Moyers program were Nobel laureates and laid-off steelworkers invited to speak at length to America, without interruption or condescension?"
Before he retired he opened up a facebook page and posted the following comment;
How did Big Finance grow so powerful that its hijinks nearly brought down the global economy - and what hope is there for real reform with Washington politicians on Wall Street's payroll? Bill Moyers talks with authors Simon Johnson and James Kwak, two of the nation's most respected economic experts and authors of the new book 13 BANKERS: THE WALL STREET TAKEOVER AND THE NEXT FINANCIAL MELTDOWN tomorrow night on the JOURNAL. check local listings - http://www.pbs.org/moyers/journal/about/airdates.html
And then he posted the video below and went into retirement. Later, he announced he is returning to TV in January of 2012. This page focuses on some of his work (since he has done allot since his return). So this is part 1.
This page is an important introduction to today's political situation as covered by the world-reknown journalist, Bill Moyers.
Bill Moyers retired on April 22, 2010. The following is a news story about it..
Article extract:Bill Moyers Retires
"Who but Bill Moyers could have devoted so much time to the work of Joseph Campbell and Robert Bly; done television's most hard-hitting reporting on the Iran/Contra scandal; investigated the media's failure in Iraq; defined the human impact of economic inequality; examined the ability of corporations to manipulate the "public mind"; evaluated the real-world impact on local communities of corporate-driven "free trade" agreements; devoted hours and hours of TV to a poetry festival, to the Book of Genesis, to the sources of addiction and to the relationship between the environment and religion, etc.? The variety of topics, moreover, is only half the story. Moyers's methods were unique. Where else but on a Bill Moyers program were Nobel laureates and laid-off steelworkers invited to speak at length to America, without interruption or condescension?"
Before he retired he opened up a facebook page and posted the following comment;
How did Big Finance grow so powerful that its hijinks nearly brought down the global economy - and what hope is there for real reform with Washington politicians on Wall Street's payroll? Bill Moyers talks with authors Simon Johnson and James Kwak, two of the nation's most respected economic experts and authors of the new book 13 BANKERS: THE WALL STREET TAKEOVER AND THE NEXT FINANCIAL MELTDOWN tomorrow night on the JOURNAL. check local listings - http://www.pbs.org/moyers/journal/about/airdates.html
And then he posted the video below and went into retirement. Later, he announced he is returning to TV in January of 2012. This page focuses on some of his work (since he has done allot since his return). So this is part 1.
About "Credit Default Swaps"
What is a credit default swap? This definition is from Investopedia:Definition of 'Credit Default Swap (CDS)'
A swap designed to transfer the credit exposure of fixed income products between parties.
Investopedia explains 'Credit Default Swap (CDS)'
The buyer of a credit swap receives credit protection, whereas the seller of the swap guarantees the credit worthiness of the product. By doing this, the risk of default is transferred from the holder of the fixed income security to the seller of the swap.
For example, the buyer of a credit swap will be entitled to the par value of the bond by the seller of the swap, should the bond default in its coupon payments.
For more info read about credit defauult swaps at "How Stuff Works"
The most recent bubble has been created by "Credit Default Swaps" (i.e. what led to to most recent financial breakdown, well, with some help)...
The CDS market exploded over the past decade to more than $45 trillion in mid-2007, according to the International Swaps and Derivatives Association. This is roughly twice the size of the U.S. stock market (which is valued at about $22 trillion and falling) and far exceeds the $7.1 trillion mortgage market and $4.4 trillion U.S. treasuries market, notes Harvey Miller, senior partner at Weil, Gotshal & Manges. "It could be another - I hate to use the expression - nail in the coffin," said Miller, when referring to how this troubled CDS market could impact the country's credit crisis.
Credit default swaps are insurance-like contracts that promise to cover losses on certain securities in the event of a default. They typically apply to municipal bonds, corporate debt and mortgage securities and are sold by banks, hedge funds and others. The buyer of the credit default insurance pays premiums over a period of time in return for peace of mind, knowing that losses will be covered if a default happens. It's supposed to work similarly to someone taking out home insurance to protect against losses from fire and theft.
Read more at Time.com
Note: Moment of Zen = Goldman Sacks used a "credit default swap" to get Greece to postpone dealing with it's debt problem. Here is a comedians reflections on what happened in Greece... http://www.thedailyshow.com/watch/wed-june-22-2011/grecian-burn---credit-default-swaps
Above I gave the example of Goldman Sachs, see how they are connected to the FEDERAL Government...
(Note: Found this illustration through BillMoyers.com)
(The image below is above from here.)
Bill Moyers on "Winner Take All Politics"
i.e. this is his first show on his return from retirement
The following extract from this page (see video of the show below):
In its premiere episode, Moyers & Company dives into one of the most important and controversial issues of our time: How Washington and Big Business colluded to make the super-rich richer and turn their backs on the rest of us.
Bill's guests - Jacob Hacker and Paul Pierson, authors of Winner-Take-All Politics: How Washington Made the Rich Richer - And Turned Its Back on the Middle Class, argue that America's vast inequality is no accident, but in fact has been politically engineered.
How, in a nation as wealthy as America, can the economy simply stop working for people at large, while super-serving those at the very top? Through exhaustive research and analysis, the political scientists Hacker and Pierson - whom Bill regards as the "Sherlock Holmes and Dr. Watson" of economics - detail important truths behind a 30-year economic assault against the middle class.
Who's the culprit? "American politics did it- far more than we would have believed when we started this research," Hacker explains. "What government has done and not done, and the politics that produced it, is really at the heart of the rise of an economy that has showered huge riches on the very, very, very well off."
Bill considers their book the best he's seen detailing "how politicians rewrote the rules to create a winner-take-all economy that favors the 1% over everyone else, putting our once and future middle class in peril."
Note: He did an interview on The Colbert Report before his first show, which is located here = http://www.colbertnation.com/the-colbert-report-videos/405670/january-10-2012/bill-moyers
In its premiere episode, Moyers & Company dives into one of the most important and controversial issues of our time: How Washington and Big Business colluded to make the super-rich richer and turn their backs on the rest of us.
Bill's guests - Jacob Hacker and Paul Pierson, authors of Winner-Take-All Politics: How Washington Made the Rich Richer - And Turned Its Back on the Middle Class, argue that America's vast inequality is no accident, but in fact has been politically engineered.
How, in a nation as wealthy as America, can the economy simply stop working for people at large, while super-serving those at the very top? Through exhaustive research and analysis, the political scientists Hacker and Pierson - whom Bill regards as the "Sherlock Holmes and Dr. Watson" of economics - detail important truths behind a 30-year economic assault against the middle class.
Who's the culprit? "American politics did it- far more than we would have believed when we started this research," Hacker explains. "What government has done and not done, and the politics that produced it, is really at the heart of the rise of an economy that has showered huge riches on the very, very, very well off."
Bill considers their book the best he's seen detailing "how politicians rewrote the rules to create a winner-take-all economy that favors the 1% over everyone else, putting our once and future middle class in peril."
Note: He did an interview on The Colbert Report before his first show, which is located here = http://www.colbertnation.com/the-colbert-report-videos/405670/january-10-2012/bill-moyers
Full Show: On Winner-Take-All Politics
Interview with Jacob Hacker and Paul Pierson, authors of "Winner-Take-All Politics: How Washington Made the Rich Richer %u2014 And Turned Its Back on the Middle Class"
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Why don't you hear about "crony capitalism" much? The following illustration is a quick explanation...
(Note: Found this illustration through BillMoyers.com)
(Image is edited from here)
David Stockman on Crony Capitalism
Moyers & Company explores the tight connection between Wall Street and the White House with David Stockman, former budget director for President Reagan.
Now a businessman who says he was "taken to the woodshed" for telling the truth about the administration's tax policies, Stockman speaks candidly with Bill Moyers about how money dominates politics, distorting free markets and endangering democracy. "As a result," Stockman says, "we have neither capitalism nor democracy. We have crony capitalism."
Stockman shares details on how the courtship of politics and high finance have turned our economy into a private club that rewards the super-rich and corporations, leaving average Americans wondering how it could happen and who's really in charge.
"We now have an entitled class of Wall Street financiers and of corporate CEOs who believe the government is there to do%u2026 whatever it takes in order to keep the game going and their stock price moving upward," Stockman tells Moyers.
Now a businessman who says he was "taken to the woodshed" for telling the truth about the administration's tax policies, Stockman speaks candidly with Bill Moyers about how money dominates politics, distorting free markets and endangering democracy. "As a result," Stockman says, "we have neither capitalism nor democracy. We have crony capitalism."
Stockman shares details on how the courtship of politics and high finance have turned our economy into a private club that rewards the super-rich and corporations, leaving average Americans wondering how it could happen and who's really in charge.
"We now have an entitled class of Wall Street financiers and of corporate CEOs who believe the government is there to do%u2026 whatever it takes in order to keep the game going and their stock price moving upward," Stockman tells Moyers.
Stockman on Crony Capitaliism
Stockman explains how the courtship of politics and high finance rewards the super-rich and corporations.
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Gretchen Morgenson on Corporate Clout in Washington
From: http://billmoyers.com/segment/gretchen-morgenson-on-industry-influence/
Moyers talks with Pulitzer Prize-winning New York Times reporter and columnist Gretchen Morgenson on how money and political clout enable industries to escape regulation and enrich executives at the top.
Gretchen Morgenson on Industry Influence
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Even the Oil Industry is heavily connected to the Federal Government...
(Note: Found this image through BillMoyers.com)
( Image source)
Very Important Information
- New Chief of Staff from Citigroup
- President Obama's first chief of staff Rahm Emanuel once sat on the board of troubled federal mortgage giant Freddie Mac. Bill Daley, the president's chief of staff whose departure was announced today, was previously a top executive at financial firm J.P. Morgan Chase & Co. So of course there should be little surprise that Obama's latest chief of staff, announced today by the president himself, also has deep ties to the financial industry himself."
- The GOP's STEALTH Money Machine!
- Tracking how campaign money flows through the political system is harder than ever, especially when that money passes through an organization like the Republican Governors Association. As MoJo's Andy Kroll reports, while campaign finance observers have fixated on the rise of super-PACs and shadow-spending groups, the RGA has quietly mastered the art of skirting election laws while raising millions for GOP candidates in key races.
This interactive explainer shows the inner workings of the RGA's stealthy M.O. for shuffling money around the country and "wiping the fingerprints off the money." - David Stockman Trashes Reaganomics, Bush Tax Cuts, And Hank "Incompetent, Reckless" Paulson
- David Stockman Trashes Reaganomics, Bush Tax Cuts, And Hank "Incompetent, Reckless" Paulson
- We must stop this corporate takeover of American democracy
- The corporate barbarians are through the gate of American democracy. Not satisfied with their all-pervasive influence on our culture, economy and legislative processes, they want more. They want it all.
- Crony Capitalism Visualized
- Crony Capitalism, infographic, visualization, cronyism, politics
by AbbasAbedi
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