This clip compiled by Best of the Left Podcast (bestoftheleft.com).
Subscribe to the original show this clip is from at
Hear this clip in context on Best of the Left at …(read more)

LEARN MORE ABOUT: Bank Failures

REVEALED: Best Investment During Inflation

HOW TO INVEST IN GOLD: Gold IRA Investing

HOW TO INVEST IN SILVER: Silver IRA Investing

Nomi Prins is a renowned journalist and author who has extensively covered and analyzed the fallout of the bank bailouts. During an interview on “This Is Hell Radio” on May 8, 2018, she provided valuable insights into the consequences of the bailouts, shedding light on the systemic issues plaguing the global financial system.

Prins is a former Wall Street insider who left the corporate world to become an investigative journalist. Her experience provides a unique perspective on the inner workings of the financial industry and how it affects ordinary people. In her conversation with “This Is Hell Radio,” she pointed out that the bank bailouts were a turning point in modern financial history.

According to Prins, the bailouts not only allowed the big banks to avoid the consequences of their reckless behavior but also increased their power and influence over the economy. Instead of holding these institutions accountable for their actions, the government decided to rescue them with taxpayer money. This decision had far-reaching implications that continue to shape the financial landscape.

One of the major consequences of the bailouts highlighted by Prins was the prevailing culture of impunity in the financial industry. When banks were rescued without facing any significant repercussions, it sent a message that they were “too big to fail” and that the government would always come to their aid. This enabled banks to take even greater risks, knowing that they would not bear the full weight of the consequences if things went wrong.

Moreover, Prins emphasized the growing wealth inequality as a direct result of the bank bailouts. While ordinary citizens suffered the consequences of the financial crisis, the banks that caused it were rewarded with taxpayer funds. This led to a consolidation of wealth and power in the hands of a few, exacerbating social and economic inequalities.

In addition to these systemic issues, Prins discussed the impact of the bailouts on democracy. She argued that the financial industry’s disproportionate influence over politics and policymaking undermines the democratic process. The revolving door between government and Wall Street perpetuates a culture of cronyism, where financial interests dictate economic policy, often at the expense of the general population’s well-being.

Prins emphasized the urgent need for comprehensive financial reform that addresses these deep-rooted problems. The system must be restructured to prevent banks from becoming too big to fail and to restore accountability for their actions. Furthermore, she called for increased transparency in both the financial industry and the political process to minimize the influence of moneyed interests in policymaking.

By shedding light on the fallout of the bank bailouts, Nomi Prins reminds us of the urgent need for systemic change. Her insights serve as a wake-up call to the enduring consequences of the financial crisis and the actions taken to address it. Prins’s work serves as a critical voice in the ongoing conversation about how to create a fairer and more accountable financial system that works in the best interest of all.