Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Banks Own DC

Details

  • Description

    Nothing will change while banks own Washington.

  • Duration 3:00
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

And a lot of the patterns that.

I had seen it sort of intuitively knew about at while I was there these patterns of that showing how much Wall Street.

-- Really taken over the government design their own -- and ultimately had such a huge influence on the whole regulatory reform out of the crisis.

-- a lot of these patterns started coming up as I have time.

That they didn't and reflect about them in when you're doing this job I was going from crisis to crisis to crisis.

And I think the process of teaching that class interacting with my students.

Sort of learned a lot more about things that I -- -- was doing.

And I was doing size was getting angrier and angrier.

Just how much our government had really abandoned.

The interest of the bailout.

Of -- issued as opposed Wall Street these these groups that are supposed to be helped.

Of course aware of any conscious of it at the time I was reporting on it.

But I think that anger really -- for me and I hope we felt like I needed to go out.

And and tell the truth about what happened this was neither a liberal.

Or conservative issue -- what.

You discovered.

Was that in your words Wall Street owns the US government.

More or less yes I mean that's what I saw -- when I went down there.

I went in with the idea of building law enforcement agency.

My primary part of my job was to try to prevent.

Detected root out and prosecute ultimately.

-- that was related to this giant -- the 700 billion dollar -- program.

So that's sort of how it went into it without and that's not a liberal conservative Democrat Republican thing that's just you know law enforcement thing.

But when I got down there -- seeing how much control Wall Street had.

On -- how much the officials in Washington.

Told the Wall Street line and -- even sort of reflect that Wall Street ideology.

That he received.

My job shifted in to protecting the taxpayer from that.

But it really was it was you know President Bush -- -- I had spent a month with the bush folks and then the rest of the time with the Obama folks but the really was no.

Significant difference when it came to that those core issues did surprise -- I was surprised -- you know as we I had a lot of frustration when I first got down there really felt like repeating their heads against the -- About the opposition we're getting from the the Paulson treasury.

And I literally had circled on my calendar January 20 2009.

As inauguration day because.

We felt like okay with the new administration coming in a democratic president President Obama all of these promises of having the most transparent government history.

That we thought the ideology which hate to be more sensitive to protecting taxpayers not as much to protecting the banks.

A more concerned about fraud and and people getting ripped off and above all be more transparent.

So really we're looking towards that date but -- -- came -- went.

And nothing changed and anything things got a little bit worsen in the way that they tell --

Load More