Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Was the Government Deceptive About its Bank Bailouts?

Details

  • Description

    Journalist and author Matt Taibbi on the government’s bailout of banks.

  • Duration 3:29
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

Do you train this dog man taught abuser bottler to mortars and morning -- -- -- dog eat dog is -- -- move from a to hear right Reyes got -- Elizabethan collar on its -- -- in Seoul.

And assays reserve on guard dog doesn't need to be trained because he could -- the -- -- -- users.

Anyway.

She time reserve or causes as an article in the current issue Reuters drone secrets and lies of the bailout.

The fell more roster Wall Street did not fix an economy.

It created a permanent bail -- state.

Based on upon -- like confident steam.

And the worst may be.

Stolen out of this -- to -- agreement.

But we just kind of went back in the assignment was suited to.

Four years later aware -- now kind of review of what happened with the -- -- And into the various companies who receive -- -- various companies who receive the money yen and sterling -- the entire history of what the bill its -- about what they were supposed to accomplish what they did accomplish what they didn't accomplished.

And one -- the -- -- we're really focused on was.

The way the government.

Lied on behalf of a lot of these companies and instead of sort of -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Yes I mean I'm sure both presidents -- knew what was going on but it was really mostly these guys I think in and we know what what came out later on.

Is that all these guys knew that and at least somewhat because these companies.

Were on the brink of collapse when they got this is -- -- money.

And -- -- kind of followed a pattern.

Throughout the entire four years or five years since the bail out.

Where companies that were you know that that should have failed stress tests.

That that had much worse situations than their balance sheets than they were saying.

The government would sign off on it.

And so it created this kind of two tiered system we have now worse than a few people know the actual real condition and of these these banks and financial companies and and everybody -- -- there's all the suckers I hear the rest of us who who kind of don't know and so.

They use this -- deception and as a substitute for for -- cash bail out instead of facts lead you know of giving more money leaves banks to make the more solvent biggest you know said you are solvent.

And injected confidence into the system that way and and that and that's what I was talking about the Ponzi scheme of -- elect.

They created this system where they were they've.

Created confidence in these banks -- confidence shouldn't be there.

And and that's really you know all Ponzi scheme -- -- everybody believes there's money there that that isn't there.

-- here's.

America I haven't been paid attention.

Because.

Irony like kuril.

Because you're -- -- writer I'm gonna on the -- And one and you write his -- as well as anybody who's ever remember a thing and I've -- all the writers and a soul all.

So sometimes the subject matter have zero interest haircut totally under senators like -- for.

Load More