2020 election

This Bill Moyers Show on Income Inequality and the Greed of Wall Street Is Required Viewing for Progressives

If you want a great video education about the plutocracy in America, here is a link to a 2012 Bill Moyers show that features two great reporters, Matt Taibbi, who regularly shines his spotlight on scandals involving big business and government, and journalist Chrystia Freeland, author of the book, Plutocrats: The Rise of the New Global Super Rich and the Fall of Everyone Else.

Moyers talks about the top 1% of income earners who are not only increasing their share of wealth — they’re using it to spread millions among political candidates who serve their interests. Example: Goldman Sachs, which gave more money than any other major American corporation to Barack Obama in 2008, is switching alliances this year; their employees have given $900,000 both to Mitt Romney’s campaign and to the pro-Romney super PAC Restore Our Future. Why? Because, says the Wall Street Journal, the Goldman Sachs gang felt betrayed by President Obama’s modest attempts at financial reform.

Interestingly, in the interview, Freeland says Obama was the first plutocrat president. Obama was never a progressive, but worked with the vested Wall Street interests and brought them into the White House as advisors. Obama could have been a multi-million corporate lawyer, but he saved his wealth creation until after he left the White House. (Obama net worth: $40 million or 30 times what it was since he entered office in 2008.)

The show is about 56 minutes and it should be required viewing for anyone who considers themselves interested in the powerful financial forces and lobbying that are shaping the country today.

The show is also refreshing since it is so professional. The discussion is between three very very intelligent. This is something you would never see on MSNBC or CNN, where the interviewers are not prepared or cannot ask an intelligent follow-up question.

So watch the interview. It is informative but depressing. Here is a hint: It is much bleaker than you suspected. The Dems and the Republicans don’t seem willing or able to correct these core problems.

https://www.youtube.com/watch?v=9nbZl0msX78

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Chuck Epstein

Chuck Epstein

Chuck Epstein has managed marketing communications and public relations departments for major global financial institutions and participated in the launch of industry-changing financial products. He also has written by-lined articles for over 50 publications, five books and served as editor and publisher of nation’s first newsletter on the topic of using the PC for personal investing and trading. (“Investing Online, 1994-1999). He also is a marketing consultant, writer and speaker on topics related to investor protection and opportunities in the very dynamic cannabis industry.

He has held senior-level marketing, PR and communications positions at the New York Futures Exchange, Chicago Mercantile Exchange, Lind-Waldock, Zacks Investment Research, Russell Investments and Principal Financial.

He has won national awards from the Mutual Fund Education Alliance (MFEA) and his web site, www.mutualfundreform.com, was named best small blog in 2009 by the Society of American Business Editors and Writers (SABEW).

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