Simon Johnson
speaker
37 appearances
1 recordings
1 series
first heard Dec 2010
last heard Dec 2010
Simon Johnson’s voice in public audio — every appearance, attributed to the second.
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Appearances
Yes, they can.
And we must stop this.
The banks should become smaller.
They should become small enough to fail.
Any time you try to run a capitalist market-type economy with some players having a get-out-of-jail-free card, bad things are going to happen.
At the moment of disaster, at the moment of a Lehman Brothers about to fail, or maybe the day after you've already had one Lehman Brothers fail, and somebody comes to you, you're the President of the United States, you're the Prime Minister of the UK, or you're running the G20...
and your top advisor says, look, here's our choice.
Either we let this bank go, or this cluster of mega banks, we let them fail and cause a greater depression than what we saw in the 1930s, or we provide them with an unsavory and politically unpopular bailout.
Those are your choices.
Total collapse or unsavory bailout.
Which one are you going to choose?
Which one would any responsible politician choose?
Who wants to plunge millions of people into poverty
around the world.
You don't.
And that's the power that the banks have.
And anyone who refuses to confront that, anyone who refuses to talk about it is misleading themselves, they're misleading the public, and they're playing into the hands of the bankers.
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