i'll tell you about a problem in capitalism
today file of capitalism unease the economic
system that best fits human nature
but is developed of violence that threatens
the whole system
and we've gotta fix it
so we can save caplets
today goldman sachs came out of the report
that criticized some banking regulations the
regulation in the essence would require them
to keep a certain amount of money in the bank
to pay people at their best or the wrong
now that's incredibly logical
the lack of cash to pay off positions is part
of what brought down even brothers and consequently
the whole system with it
but bowman is a concern with logic their concern
with profits
the more they can gamble the more they can
win
now to be accurate
it's not really how much colin can win it's
how much to executives who worked there ten
win and take home
who's actually prom in our system this threatening
the heart of capitalism
big seconds and publicly traded companies
don't have spend the day
if they lose their bats they don't lose money
the shareholders to
so now you who caa
for example one of the present moment who
sank energy was joke asana
when he lost his best he was eventually removed
from the company
but let's take a look at the results of that
he got to keep a six hundred million dollars
that he made while running their financial
products division
and the american taxpayer got stuck with a
one hundred and eighty two billion dollar
bill
cuz i was in dealing with his own money
he was alternately gambling
with senor
money
but when he lost
your money he got to keep his own their winnings
anyway
but even if taxpayers aren't involved is the
shareholders that take the head not executives
do you know that none of the privately-held
financial companies crashed during the two
thousand eight financial collapse
is because the partners work invested in their
companies it was their money everyone does
so they didn't take the same kind of risk
of the publicly-traded companies that you
see that make sense
that's why we have to change a sense that
i call this the kasama loophole
than just about a algae or goldman sachs it's
about the whole system incentivize as corporate
executives to take high-risk for higher awards
because they don't care the cost of it goes
wrong
doesn't capitalism that's a perversion of
free markets
thinking is weighing at this point and i quote
for any party that took that off whether you're
a democrat a republican
massive change we will report
unfortunately i don't think that's a change
we've got in this financial reform package
and we don't do it soon and fix this up we're
all gonna be a lot of trouble they're gonna
keep on taking those risks force there that's
going to lead to more and more crutches that
we're gonna have to pay for
are now that's our show for this friday
unchanged you're
i mostly on church always catch me on
the other side come civil-rights chauvinist
blossom
every so often asks
