The Impending banking crisis / Steven Pizzo ; interviewed by Dennis Bernstein.
Steven Pizzo, author of "Inside Job," discusses the similarities between the Savings and Loan crisis of the late 80's and the impending Banking crisis of the 1990's. Pizzo begins by tracing how the S & L lobby fought for deregulation, and how that deregulation lead to the collapse of that system. He goes on to show that a similar deregulation of Banking took place just prior to the 1992 elections, and that there are 1,069 banks listed as "troubled." The lowering of interests rates has proved a temporary solution, but the failure of large numbers of banks is almost inevitable. Pizzo criticizes government officials charged which overseeing banking, and that the collapse of banking is to large for any government bailout. It is crucial that community banking not collapse.|THE IMPENDING BANKING CRISIS / Steven Pizzo| interviewed by Dennis Bernstein. - Steven Pizzo, author of "Inside Job," discusses the similarities between the Savings and Loan crisis of the late 80's and the impending Banking crisis of the 1990's. Pizzo begins by tracing how the S & L lobby fought for deregulation, and how that deregulation lead to the collapse of that system. He goes on to show that a similar deregulation of Banking took place just prior to the 1992 elections, and that there are 1,069 banks listed as "troubled." The lowering of interests rates has proved a temporary solution, but the failure of large numbers of banks is almost inevitable. Pizzo criticizes government officials charged which overseeing banking, and that that collapse of banking is to large for any government bailout. It is crucial that community banking not collapse. - RECORDED: 1992.