You’d think after such a calamitous economic fall, there’d be a strong consensus on reinforcing the protections that keep us out of harm’s way. But in some powerful corners, the opposite is happening. Business and political forces, including hordes of lobbyists, are working hard to diminish or destroy these protections. One of the biggest bull’s-eyes is on the Volcker Rule, a section of the Dodd-Frank Act that aims to keep the banks in which you deposit your money from gambling it on their own — sometimes risky — investments.
On this week’s Moyers & Company, Bill talks with the namesake of the Volcker Rule — Paul Volcker, who served two terms as Chairman of the Board of Governors of the Federal Reserve System from 1979-1987, and formerly headed President Obama’s Economic Recovery Advisory Board.
April 5, 2012
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In this essay, Bill shares how several American cities, including Los Angeles, Kansas City, and New York City, are challenging big banks, and holding them accountable to their communities.
Restructuring Wall Street From the Bottom Up
April 5, 2012
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