Lawless Banking and Security Bubbles

Bill Moyers, Doubleday

 And then I see a connection between those disasters and the
repeal of sixty-year-old banking and securities regulations designed during the
Great Depression to prevent exactly that kind of human and economic damage. Who
pushed for the removal of that firewall? An administration and Congress who are
the political marionettes of the speculators, and who are well rewarded for
their efforts with indispensable campaign contributions. Even honorable opponents
of the practice get trapped in the web of an electoral system that effectively
limits competition to those who can afford to spend millions in their run for
office. Like it or not, candidates know that the largesse on which their
political futures depend will last only as long as their votes are satisfactory
to the sleek "bundlers" who turn the spigots of cash on and off.