ROBERT REICH POIGNANTLY RECOUNTS HIS DAYS IN THE CLINTON CABINET TRYING TO STAVE OFF THE ENABLER OF THE CURRENT ECONOMIC CRISIS: THE REPEAL OF THE GLASS-STEAGALL ACT. THIS IS A "MUST WATCH" FOR ANYONE CONCERNED WITH THE ECONOMIC AFFLICTION NOW BEING IMPOSED ON AMERICA'S 99%

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Tuesday, May 8, 2012                                                                                          Permalink

Former Labor Sec. Robert Reich on Clinton’s Errors of Crippling Welfare to Repealing Glass-Steagall

Former Secretary of Labor Robert Reich critiques President Obama’s handling of the economic crisis and the Clinton administration’s repeal of the Glass-Steagall Act, a key deregulatory move that ended the separation of commercial and investment banking and is widely seen as having helped lead to the financial collapse. The Clinton administration also presided over a drastic transformation of U.S. welfare laws, throwing millions off of welfare rolls. "I went outside of the White House, walked back to my office along Constitution Avenue, expecting I would see signs. ... There are a lot of people who were concerned about that issue. But there was nobody on the streets. It was deafening. The silence was deafening," Reich says of the day Clinton signed the change into law. He notes this is when he realized, "if people who are concerned about the increasing concentration of wealth and power in this country are not mobilized, are not visible, then nothing progressive is going to happen." Reich is professor of public policy at the University of California at Berkeley. He has written 13 books, including "Aftershock: The Next Economy and America’s Future." His latest, an e-book, is just out: "Beyond Outrage: What Has Gone Wrong with Our Economy and Our Democracy, and How to Fix Them." [Original includes rush transcript]

Tuesday, May 8, 2012                                                                                           Permalink

"We Need to Make a Ruckus": Robert Reich Hails Occupy for Exposing Concentration of Wealth and Power

In his new book, "Beyond Outrage," former Labor Secretary Robert Reich opens with a dedication to the Occupy Wall Street movement. He writes: "To the Occupiers, and all others committed to taking back our economy and our democracy." We speak to Reich about the success of Occupy in reshaping the national dialogue on the economy and why strong grassroots movements are needed to push elected leaders in Washington to enact a progressive agenda. Reich also discusses why austerity is not the answer to the economic crisis at home or in Europe. [Original includes rush transcript]