As disgraced ex-Governor but really smart financial/political analyst Eliott Spitzer recently wrote in his syndicated column:
"The root causes of Wall Street’s violations are really quite simple to catalogue: conflicts of interest built into business models that promote violations of fiduciary obligation; easy access to "OPM" — other people’s money — coupled with fee structures that reward selling bad products because others are left holding all the down side risk; and the certainty that institutions that are too big to fail will get bailed out when things really get tough, again insuring the socialization of risk while gains are privatized and held by the fortunate few who are properly situated to take advantage of the aforementioned conflicts and fee structures."
Tonight, Tuesday, at 7:00pm, tune in to a live, streamed conversation from Washington, DC featuring Spitzer, Matt Taibbi, Van Jones, Ron Suskind, Heather McGhee, Jesse La Greca and Dylan Ratigan talking about the role the financial and corporate elite played in creating the economic crisis in the United States, and how those same elites impede the flow of democratic life in the country today. Hosted by The Culture Project with FORA TV as part of its invaluable Blueprint for Accountability series.