On the big questions about our government’s performance in the lead up to the 2008 financial crisis and afterwards during the response, today’s guests believe our government blew it. Past administrations made errors of commission and omission that led to the crisis, and the Obama Administration failed to address its aftermath effectively. Government didn’t diagnose and treat the problems that led to the crisis, and it didn’t prescribe the right medicine after the convulsion. On these big questions, few at Firedoglake are likely to disagree with the good doctors of political science who are today’s guests. There’s blame enough to go around, the authors say, but “Wall Street should be nailed to the highest pole.”
|By: Jeff Connaughton Sunday July 28, 2013 1:59 pm|
|By: William Black Sunday October 21, 2012 1:59 pm|
Jeff Connaughton has authored a powerful, and chilling insider’s perspective on the financial crisis and the pathetic governmental response to it. The second part of his title sums up the result and the first half explains why Wall Street always wins. Many, perhaps most Americans are likely to agree with both parts of Connaughton’s title so this book will not transform the public’s view of the issues. The public largely has this set of issues correct. Connaughton gives the readers unique access to the facts because he had a front row seat to many of the key discussions and he has the analytical abilities and expertise to explain the significance of those facts.
|By: David Dayen Thursday October 4, 2012 12:30 pm|
Before last night’s debate, Jeff Connaughton, former chief of staff to Senator Ted Kaufman and longtime aide to Joe Biden and President Clinton, offered some advice to Mitt Romney. He thought Romney should go after Barack Obama’s biggest weakness: the failure to prosecute Wall Street crimes.
In actuality, Romney only submitted a glancing blow with respect to Wall Street, claiming that the Dodd-Frank financial reform law “designates a number of banks as too big to fail, and they’re effectively guaranteed by the federal government… There’ve been 122 community and small banks have closed since Dodd- Frank.”
Here is an edited transcript of our conversation, which covered financial reform, money in politics, and the insidious grip of Big Money over Washington.