I know this is going to be kind of a tough sell, but hear me out. In the video below, which I just watched on Brad DeLong’s blog, economist Simon Johnson explains how the financial industry concentrated their power during the Reagan years, why the “too-big-to-fail” banks are bigger than ever, and why we can expect more and greater crises in the future. And it only takes 8 minutes!
Johnson argued on Bill Moyers’ show last year that Geithner specifically and the Obama administration generally weren’t going to be tough enough on the banking lobby in Washington. I think anyone who has watched the financial reform process since then would have to agree with him.
This video is from the Roosevelt Institutes’s “Let Markets Be Markets” conference, and I promise its interesting.