Sunday, April 5, 2009

Bill Moyers Interviews William Black, Former Savings & Loan Regulator

I found this Bill Moyers interview by following a link in a fantastic post about the pervasive corruption and collusion and greed that has led to this financial disastor. Conisdering the dry tone of the interview, this is one of the most engaging 30 mintues of tv I've seen in a while.

Favorite Quotes:

BILL MOYERS: But you're saying our system became a Ponzi scheme.

WILLIAM K. BLACK: Our system...

BILL MOYERS: Our financial system...

WILLIAM K. BLACK: Became a Ponzi scheme.

WILLIAM K. BLACK: ...we don't want to change the bankers, because if we do, if we put honest people in, who didn't cause the problem, their first job would be to find the scope of the problem. And that would destroy the cover up.

BILL MOYERS: The cover up?

WILLIAM K. BLACK: Sure. The cover up.

"It is not necessary to hope in order to persevere."

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