Saturday, April 4, 2020

Let’s Stop the Bailout Fraud Before It Starts

Let’s Stop the Bailout Fraud Before It Starts
Bill Moyers interviews Neil Barofsky, who as Special Inspector General uncovered rampant corruption in the $700 billion 2008 Wall Street bailout.

Bill Moyers: Listen to these headlines I brought with me. Washington Post: “Coronavirus stimulus package spurs a lobbying gold rush.” The Guardian: “Washington lobbyists in frenzied battle to secure billion dollar Coronavirus bailouts.” The Wall Street Journal: “Lawmakers pack federal stimulus bill with pet provisions.” New York Times: “Fine print of stimulus bill contains special deals for industries.” I mean, that happened after the first bailout, right? And it’s happening all over again.

Neil Barofsky: And we unfortunately, we should not be surprised. Right? I mean one of the realities of our system is that corporate America has a large influence on how these bills play out. And, again, we saw it maybe on miniature last time because it was really one industry that was part of this process.

Excellent in depth interview.

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