Yesterday (Oct. 28) on Morning Meeting,  Dylan Ratigan had on Eliot Spitzer and Glenn Greenwald to discuss Banking Reform the lack of any meaningful Banking Reform  Spitzer was  on fire!

He and Ratigan went on to talk about Larry Summers, Geithner, and Rubin backing the 1999 bill to legalize the de-regulation of credit default swaps (Gramm-Leach-Bliley, or the Commodity Futures Modernization Act)  and the hell it has caused.  He points out:

 Today's GDP uptick is not about the real  economy, Wall Street is not the real economy, the Banks aren't helping us get out of this slump, there are structural issues that need tending to, and they're not doing anything about it.  It's an abomination...

Ratigan asked, "At what point are we dealing with fraud?" and listed various kinds: bank, motgage,  etc. against the American people?  Glenn Greenwald took a stab at it, then Spitzer talked about investigations and what the Angelides commision needs to find out, and what regulations need to be enacted. 

 Ratigan explained the legalization of proprietary-trading casino gambling using Grandma's money; asked Spitzer what needs to happen.  Spitzer spoke about the 12.9  billion the government gave Goldman Sachs, they traded in the market, made a ton of money, and none of it helped the economy.  The banks still aren't lending, he complained

 Ratigan asked what do we need to do right now?  Spitzer:

 They've got to stop proprietary trading with government with federally-guaranteed money; end it.

Please watch it, and read about the Angelides Commission.

 Let us forgive him his "sins" and get him working for us again!

 

(this was a quickie, I just watched it online; I wanted to get it up so you could watch it.)