September 28 - How Hard Will China Crack Down on Hong Kong Protests?; The Explosive Secret Goldman Sachs Tapes; Why Wall Street Always Wins

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Part 1

We begin with the riots in Hong Kong where citizens are protesting China’s imposition of candidates chosen by the PRC in the next election as opposed to local popularly elected candidates.Susan Shirk, the Chair of the 21st Century China Project at the University of California, San Diego, who served as Deputy Assistant Secretary of State in the Bureau of East Asia and Pacific Affairs, joins us to discuss whether China can put down the protest of thousands of people blocking the main road into the financial central district of Hong Kong, and how much the protests will resonate on the mainland as the Communist Party seeks to contain its citizen’s growing demands for greater freedom and accountability. 

susan shirk

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Part 2

Then we look into the explosive story broken by NPR’s “This American Life” in conjunction with ProPublica, that exposes the capture of Federal Reserve regulators by the big Wall Street banks, in this case Goldman Sachs, where a bank examiner who joined the New York Fed as part of a new wave of post-2008-crash examiners, secretly tape recorded meetings in which it is painfully clear that the regulators are pathetically deferential to the bankers, revealing a culture of cowardice and collusion that is designed to deceive the public into believing that here is actually oversight over Wall Street. William K. Black, the Former Litigation Director of the Federal Home Loan Bank Board, who put hundreds of bankers in jail for the S&L rip-offs during the 1980’s, joins us to explain how these revelations answer the question of why bankers today are too big to jail.

william k black

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Part 3

Then finally, we hear from William Cohan, the author of “Money and Power: How Goldman Sachs Came to Rule the World”. He joins us to discuss his article at Politico, “Why the Fed Will Always Wimp Out on Goldman” and explain the culture of regulatory capture on Wall Street that these secret tapes expose, and what the likely outcome will be from the Congress and the public now that the delusion that there is such a thing as regulation of the banking industry has been laid bare.

william black

 

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