Congress Lets Big Banks Resume Risky Trades  Rolling Back Financial Reforms Enacted To Prevent Another Financial Crisis
Featuring
Timothy A. Canova Professor of Law and Public Finance, Shepard Broad Law Center, Nova Southeastern University


The big banks attached a measure to must-pass Congressional spending legislation which halts a restriction on the kinds of risky derivatives trading that blew up the US economy in 2007. It allows the banksters to gamble not only with other people’s money but with taxpayer guarantees for their losses. This is only the  beginning of  their planned roll back of financial reforms passed to prevent another financial crisis. Liberal democrats responded by calling for the breaking up the “too big to fail” banks, but is this really enough? Do we need to nationalize banks?           

Plus
U.S. Senator Bernie Sanders' Senate speech railed against the big banks' Congressional maneuver easing restrictions on risky derivatives trading and called for breaking up the "too big to fail" big banks. 

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Lincoln Used Greenbacks To Fight Civil War, Can’t We To Eradicate Debt!

With
Timothy A. Canova, Prof. of Law & Public Finance

In 1862 Pres. Lincoln signed an act to create a new government-issued paper money, Greenbacks, not redeemable in gold or any precious metals. His successful experiment helped finance the North to prevail in the Civil War. We’ll explore why Lincoln chose this path and the lessons we can learn, including discussing the issuance of a $1 trillion dollar coin, as our recovery is threatened by obsessive concern by both parties about cutting deficits and funding the government – the so-called debt limit and the fiscal cliff.

http://archive.org/stream/BuildingBridgesLincolnGreenbacksTodaysDebtDebate

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Speaker Boehner’s Adds His Jobs Pitch To Obama’s, So Where’s The Beef?with
Timothy Canova, professor of international economic law and author of The Federal Reserve We Need and the Legacy of the Clinton Bubble

House Speaker John Boehner added his two cents to the pot of job creation
plans when he called for a total reform of the tax code, fewer federal
regulations and an expansion of infrastructure projects and domestic energy production. Boehner’s plan targets the employer side by lowering the
corporate tax rate and rolling back environmental and labor regulations.
Meanwhile, Obama’s plan focuses partially on the employee side of the
equation, with payroll tax breaks and extended unemployment insurance, infrastructure projects and aid to the States for Education Jobs. We’ll
dissect the respective proposals, see the prospects of either plan to put
America back to work and comment on Obama’s deficit reduction proposals. ************
Plus
The Socialist Bank of North Dakota
with
Dr. Rozanne Everson Junker, political scientist

North Dakota has long had a state bank which unlike private banks has
faithfully served the people and the state in good times and bad. We've
talked about a public option for health care, but why not for banks?
Thanks to Michael Moore for this case study.

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