JPMorgan Chase CEO Jamie Dimon’s appearances in the last two weeks before Congressional committees — many members of which received campaign contributions from the megabank — beg the question: For how long and how many ways are average Americans going to pay the price for big bank hubris, with our own government acting as accomplice?
On this week’s Moyers & Company, Rolling Stone editor Matt Taibbi and Yves Smith, creator of the finance and economics blog Naked Capitalism, join Bill to discuss the folly and corruption of both banks and government, and how that tag-team leaves deep wounds in our democracy. Taibbi’s latest piece is “The Scam Wall Street Learned from the Mafia.” Smith is the author of ECONned: How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism.
Meanwhile, for anyone who wants to understand why, in one of the richest nations in the world, so many poor people are teetering on the edge, author and advocate Peter Edelman talks about continuing efforts to fight poverty, and what it will take to keep the needs of poor people on the American political agenda. A former aide to Robert F. Kennedy and faculty director of Georgetown University’s Center on Poverty, Inequality, and Public Policy, Edelman’s new book is So Rich, So Poor: Why It’s So Hard to End Poverty in America.