Two years after directing the Academy Award-winning documentary, “Inside Job,” filmmaker Charles Ferguson returns with a new book, “Predator Nation: Corporate Criminals, Political Corruption, and the Hijacking of America.” Ferguson explores why no top financial executives have been jailed for their role in the nation’s worst economic crisis since the Great Depression. We also discuss Larry Summers and the revolving door between academia and Wall Street, as well as the key role Democrats have played in deregulating the financial industry. According to Ferguson, a “predatory elite” has “taken over significant portions of economic policy and of the political system, and also, unfortunately, major portions of the economics discipline.” Click here to see Part 2 of this interview. [includes rush transcript]
Charles Ferguson, the Academy Award-winning director of Inside Job, a documentary about the financial crisis. His film on the war in Iraq, No End in Sight, was nominated for an Academy Award. His new book is called Predator Nation: Corporate Criminals, Political Corruption, and the Hijacking of America.
Phi Beta Iota: We strongly disagree on where the blame should be placed. The two-party tyranny, and corrupt Senators and Representatives, are the ones who have committed treason in betrayal of the public trust. Nothing Wall Street has done would have been possible without the combination of “control fraud” (failure of the Executive to enforce laws and regulations) and corruption (outright legalization of crime by corrupt Members in return for specified 5% bribes). There is nothing wrong with the United States of America that cannot be fixed, and fixed quickly, merely by flushing the two-party tyranny and all political incumbents (both executive and legislative), down the toilet. This is a state and local problem as well, not just a national problem.