2019-04-10 15:53:39

Richard Wolff on Bank Deregulation

"Then we had 10 years in which the big banks literally did every illegal and unethical thing imaginable. They manipulated interest rates (the LIBOR scandal), they got caught manipulating foreign exchange rates, they got caught charging people for fees they shouldn't have, they got caught mismanaging the mortgage crisis, you name it," says Professor Richard Wolff. "Oh, I forgot laundering criminal money. Shouldn't forget that. They got caught. They paid billions in fines. After a record ten years like that, the 'logical' thing is to give them less regulation. I told you it'd take your breath away."

Bank Deregulation Big Banks Economic Update Economy Libor United States

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