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Forum Post: Bill Moyers: The Plutocracy Will Go to Extremes to Keep the 1% in Control

Posted 1 year ago on Oct. 23, 2012, 11:44 a.m. EST by WSmith (5271) from Cornelius, OR
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Bill Moyers: The Plutocracy Will Go to Extremes to Keep the 1% in Control

Moyers, Matt Taibbi and Chrystia Freeland explain how the plutocrats have willfully confused their self-interest with America’s interest.

October 19, 2012 |

From BillMoyers.com:

The One Percent is not only increasing their share of wealth — they’re using it to spread millions among political candidates who serve their interests. Example: Goldman Sachs, which gave more money than any other major American corporation to Barack Obama in 2008, is switching alliances this year; their employees have given $900,000 both to Mitt Romney’s campaign and to the pro-Romney super PAC Restore Our Future. Why?

Because, says the Wall Street Journal, the Goldman Sachs gang felt betrayed by President Obama’s modest attempts at financial reform. To discuss how the super-rich have willfully confused their self-interest with America’s interest, Bill is joined by Rolling Stone magazine’s Matt Taibbi, who regularly shines his spotlight on scandals involving big business and government, and journalist Chrystia Freeland, author of the new book Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else .

Full transcript of the interview below the video:

BILL MOYERS: The new Gilded Age is roaring down on us, an uncaged tiger on a rampage. Walk out to the street in front of our office and turn right and you can see the symbol of it: a fancy new skyscraper going up two blocks away. When finished, this high rise among high rises will tower a thousand feet, the tallest residential building in the city.

The New York Times has dubbed it "the global billionaires club," and for good reason. At least of two of the apartments are under contract for more than $90 million each. Others, more modest, range in price from $45 million to more than 50 million.

Simultaneously, the powers-that-be have just awarded Donald Trump -- yes, that Donald Trump -- the right to run a golf course in the Bronx which taxpayers are spending at least $97 million to build. What “amounts to a public subsidy,” says the indignant city comptroller, "for a luxury golf course." Good grief. A handout to the plutocrat's plutocrat.

This, in a city where economic inequality rivals that of a third-world country. Of America's 25 largest cities, New York is now the most unequal. The median income for the bottom 20% last year was less than $9,000, while the top one percent of New Yorkers has an average annual income of $2.2 million.

Across America, this divide between the superrich and everyone else has become a yawning chasm and studies indicate it may stifle jobs and growth for years to come. At no time in modern history has the top one hundredth of one percent owned more of our wealth or paid so low a tax rate. But in neither of the two presidential debates so far has the vastness of this astounding inequality gap been discussed. Not by Mitt Romney, who is the embodiment of the predatory world of financial capitalism. And not even by Barack Obama, whose party once fought for working men and women against the economic royalists.

So just in time, if not too late, comes this definitive examination of inequality: Plutocrats: The Rise of the New Global Super-Rich and the Fall of Everyone Else. Its author is Chrystia Freeland, whose journalism is steeped in years of covering robber barons from Russia to Mexico and India. Once deputy editor of The Globe and Mail in Canada and a correspondent for The Financial Times and The Economist, she is now the editor of Thomson Reuters Digital.

We're joined by the perceptive and merciless Matt Taibbi, who has made the magazine Rolling Stone a go-to source for understanding the financial scandals that roil America. Who can forget his 2009 article on "The Great American Bubble Machine," which described investment bank Goldman Sachs as quote, "a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money”? ... Income inequality has soared to the highest level since the Great Depression, with the top one percent taking 93 percent of the income earned in the first year after the recovery, the first full year after the recovery. Why are the two candidates not talking about inequality growing at breakneck speed?

CONTINUED:

http://www.alternet.org/economy/bill-moyers-plutocracy-will-go-extremes-keep-1-control?paging=off

75 Comments

75 Comments


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[-] 7 points by 99nproud (270) 1 year ago

No one gives up power without a fight. If the people don't rise up nothing will change.

[-] 1 points by owsarmy (300) 1 year ago

Maybe through protest, boycotts, strikes and voting

[-] 2 points by 99nproud (270) 1 year ago

All of that is required. Stay strong. It will be years of hard work, slow progress, small victories, and demoralizing setbacks.

[-] 1 points by owsarmy (300) 1 year ago

I'm with you.

[-] 1 points by 99nproud (270) 1 year ago

Then we are on our way.

[-] 1 points by owsarmy (300) 1 year ago

As long as we bring others along.

[-] 2 points by 99nproud (270) 1 year ago

Come gather 'round people

Wherever you roam

And admit that the waters

Around you have grown

And accept it that soon

You'll be drenched to the bone

If your time to you

Is worth savin'

Then you better start swimmin'

Or you'll sink like a stone

For the times they are a-changin'.

[-] 1 points by owsarmy (300) 1 year ago

Great song.

[-] 1 points by 99nproud (270) 1 year ago

Profound meaning

[-] 1 points by owsarmy (300) 1 year ago

Now & then. Timeless.

[-] 1 points by 99nproud (270) 1 year ago

For any generation

[-] 1 points by owsarmy (300) 1 year ago

bump it up.

[-] 1 points by 99nproud (270) 1 year ago

Thank you

[-] 1 points by owsarmy (300) 1 year ago

the thread is worth the bump up

[-] 1 points by 99nproud (270) 1 year ago

Agreed consider it bumped again.

[-] 1 points by WSmith (5271) from Cornelius, OR 1 year ago

That's why we have elections ~ democracy.

[-] 4 points by 99nproud (270) 1 year ago

So many people are uninvolved, uninformed, and not rising up.

Depressing!

[-] 3 points by WSmith (5271) from Cornelius, OR 1 year ago

No time for depression!

Time to keep the kids out of traffic and from drinking the Drano!!

[-] 3 points by 99nproud (270) 1 year ago

LOL

[-] 1 points by WSmith (5271) from Cornelius, OR 1 year ago

Simple truths!

Gotta do it!

The price is way too high if we don't!

[-] 2 points by 99nproud (270) 1 year ago

Agreed. Spread the truth to all voters.

[-] 2 points by WSmith (5271) from Cornelius, OR 1 year ago

Spread the Vote to all peoples

[-] 4 points by 99nproud (270) 1 year ago

republicans must be defeated

[-] 2 points by WSmith (5271) from Cornelius, OR 1 year ago

The problem is two-fold, we have newbies that don't get the dirty tricks of politics (or politics at all) and we have Unicorn chasers and both-samers that think a 3rd party will show them the way. Meanwhile, they are clueless and oblivious to the REPUBLICONS behind every single one of their complaints! And that until these Cons are voted out, nothing NOTHING can or will be done to remedy the problems. And there are real RW-GOP plants here to slime real solutions, and encourage anti-Dem blame.

Vote the Cons out!

[-] 2 points by 99nproud (270) 1 year ago

We did pretty wel getting rid of some RW extremists. Now we demonstrate all of them for a better life.

[-] 2 points by WSmith (5271) from Cornelius, OR 1 year ago

Somewhere between good enough and not good enough. They, Big RW Media, are busy BUSY removing Progressive Radio.

[-] 3 points by 99nproud (270) 1 year ago

The battle against RW evil continues on every front.

[-] 2 points by WSmith (5271) from Cornelius, OR 1 year ago

Pass the word, I'm not seeing it.

[-] 3 points by owsarmy (300) 1 year ago

Bill Moyers is one of my favs.

Good post.

[-] 1 points by WSmith (5271) from Cornelius, OR 1 year ago

says this is too short: ok

[-] 2 points by owsarmy (300) 1 year ago

2 characters is not enough of a comment.

[-] 1 points by WSmith (5271) from Cornelius, OR 1 year ago

That's what she says!

[-] 1 points by owsarmy (300) 1 year ago

LOL. Rules and regulations!! It's the damn neocons controlling our private lives. Stay out of our bedrooms & forums.

[-] 1 points by WSmith (5271) from Cornelius, OR 1 year ago

It's wars that intensifies loves!

[-] 1 points by owsarmy (300) 1 year ago

Ying n yang?

[-] 1 points by WSmith (5271) from Cornelius, OR 1 year ago

Yikes

[-] 1 points by DKAtoday (33128) from Coon Rapids, MN 1 year ago

Like competing in the global market place. How lovely - Hey?

How The United States Is Reinventing The Slave Trade

[-] 1 points by bensdad (8977) 1 year ago

EXTREMES:


▬►W T F U
http://www.youtube.com/watch?v=hDTT1yRNsFE&feature=player_embedded


▬►Proof : republiclan voting machine fraud in OHIO
http://www.youtube.com/watch?v=T32eRtxEiRw
http://www.youtube.com/watch?v=vDbnzpXvTkQ
yes – I know these are long but if you want to know what can happen
in Ohio and elsewhere – please WATCH


▬►P = A

A took social security payments
P took social security payments
A thought a woman president was unthinkable
A admired & revered child killer william hickman
P admired & recered A
A explains the morality of selfishness
P explains the morality of capitalism
http://www.youtube.com/watch?v=fojrlX6rmmM&feature=youtube_gdata_player


▬►Florida insanity
http://occupywallst.org/forum/florida-proposed-constitutional-amendments-this-is/


▬►To PROSECUTE Voter Suppression: 18 U.S.C. § 241 : US Code - Section 241: Conspiracy against rights If two or more persons conspire to injure, oppress, threaten, or intimidate any person in the free exercise or enjoyment of any right or privilege secured to him by the Constitution or laws of the United States, or because of his having so exercised the same; they shall be fined under this title or imprisoned not more than ten years, or both.


▬►OWS Working Group http://corporationsarenotpeople.webuda.com


▬►Electoral College Reform – convert to popular vote - easily http://electoral-college.org/ Under the National Popular Vote bill, all of the state’s electoral votes would be awarded to the presidential candidate who receives the most popular votes in all 50 states combined. The bill would take effect only when enacted by states possessing a majority of the electoral votes (270 of 538).


[-] 0 points by WSmith (5271) from Cornelius, OR 1 year ago

So good I feel unworthy. Thanx!

Have you heard about the "Write-In for Jesus"? Yep, just what it sounds like. Maybe they have one for Unicorns? Maybe they are the same??????

[-] 1 points by hchc (3297) from Tampa, FL 1 year ago

There is more than meets the eye here. Did the banks not hear everything we were saying in 08 during the election season?

Did the banks not hear us all screaming that the banks need to be help accountable? Did they think that Obama would get in and not do something about it? Only a fool would think that.

Jp Morgan and Wells just posted record profits for the 3rd quarter. So they are obviously doing just fine, with or without DoddFrank. And the Fed has been feeding them like pigs for a couple years now, without a peep from almost the entire congress. So theres no problem there.

All FrankDodd did was make hundreds of smaller banks go out of business, which were bought up by the big six. And thats what fascism is all about. So no problem there.

So what is it their real angle here? If Obama was making noise about Glass Steagal or prosecuting people I would understand, but thats certainly not the case. So what gives?

[-] 3 points by WSmith (5271) from Cornelius, OR 1 year ago
[-] 4 points by 99nproud (270) 1 year ago

Bernie for President 2016

[-] 3 points by WSmith (5271) from Cornelius, OR 1 year ago

He's too old, but there are many other good pols Bernie endorses.

[-] 3 points by 99nproud (270) 1 year ago

Yeah. maybe Warren!

[-] 3 points by WSmith (5271) from Cornelius, OR 1 year ago

Sherrod Brown, Alan Grayson, and many others.

You don't think MSM is going to reveal them do you???

Alternative media!!

[-] 2 points by 99nproud (270) 1 year ago

Media conglomerates should be broken up just like big banks.

[-] 2 points by WSmith (5271) from Cornelius, OR 1 year ago

It's a difficult and complicated problem.

But broadcasts labeled "News" should meet some sort of fact-checked and comprehensive standards.

[-] 2 points by 99nproud (270) 1 year ago

And even the threat of fines & jail,

[-] 2 points by WSmith (5271) from Cornelius, OR 1 year ago

Something...

[-] 2 points by 99nproud (270) 1 year ago

Bumping up the right post!

[-] 2 points by WSmith (5271) from Cornelius, OR 1 year ago

Every little bit... helps.

[-] 2 points by WSmith (5271) from Cornelius, OR 1 year ago

He endorses OBAMA!

[-] 2 points by 99nproud (270) 1 year ago

Of course he does! He is no moron. He may complain but in the end Bernie knows what is right. Good election, some progress for progressives.

[-] 3 points by WSmith (5271) from Cornelius, OR 1 year ago

Now we have to really fight!!

[-] -2 points by hchc (3297) from Tampa, FL 1 year ago

There's a reason why Bernie, one of the good guys, skipped the DNC ok. Its not because he's endorsing him.

[-] 5 points by VQkag2 (16478) 1 year ago

But he IS endorsing Pres Obama. He is!!

Sanders knows better than you I'm sure! And Vermont is a solid blue state so he don't have to.

Sanders knows best! (His intelligence comes from his Brooklyn roots I think)

[-] -2 points by hchc (3297) from Tampa, FL 1 year ago

Find me a glowing endorsement from Sanders about Obama. You cant.

Here is his latest oped piece "Lame-duck mischief — The scariest scenario is if a defeated Obama administration were tempted to continue to implement policies it has pursued, especially should there be a narrow or contested victory for Mr. Romney. President Obama has already stretched constitutional executive powers to a breaking point, whether it’s usurping immigration procedures still under consideration in the Congress, letting the Environmental Protection Agency run berserk, or defending the actions of an attorney general under indictment for contempt of Congress.

Read more: SANDERS: Dangerous days ahead after presidential election - Washington Times http://www.washingtontimes.com/news/2012/oct/21/sanders-dangerous-days-ahead-after-presidential-el/#ixzz2A8qVYOgC Follow us: @washtimes on Twitter

Spefically: Lame-duck mischief — The scariest scenario is if a defeated Obama administration were tempted to continue to implement policies it has pursued, especially should there be a narrow or contested victory for Mr. Romney. President Obama has already stretched constitutional executive powers to a breaking point, whether it’s usurping immigration procedures still under consideration in the Congress, letting the Environmental Protection Agency run berserk, or defending the actions of an attorney general under indictment for contempt of Congress.

[-] 3 points by VQkag2 (16478) 1 year ago

Porn stars for Obama.

Lisa Ann
Dana DeArmond
Jessica Drake
Ron Jeremy
Kimberly Kane
Kayden Kross
Kristina Rose

Need I say more? c'mon. The election is O ver!

[-] 2 points by VQkag2 (16478) 1 year ago

Thanks.

Sanders endorses Obama!.

Trust the great Brooklyn born Sen Sanders.!

He knows better than Hc Hc

[-] -1 points by hchc (3297) from Tampa, FL 1 year ago

Way to dodge the statement from Sanders. You are such a hack.

[-] 2 points by VQkag2 (16478) 1 year ago

I didn't dodge it.

I thanked you very politely for your very important and valuable quote regarding Bernies concern of the risk/threat of Pres Obama mistakes/failures.

Like Bernie I am most concerned about the items listed. like Bernie I am profoundly distressed at Pres Obamas continued compromise with the right wing wackos.

So like Bernie I know that the only way to create change is to grow this movement and protest for the change that benefits the 99%.

And like Bernie I know that Pres Obama or Romney will be our next Pres.

I also share Sanders opinion that Pres Obama has made real progress on the progressive agenda and ending the right wing fear mongering propaganda/war on terror.

I agree with Bernie that we can work with Pres Obama, pull him from the right, & have him serve the 99%. I agree with Bernie that Pres Obama is better than any republican, and the best candidate running that can be elected.

Hows dat? You asked for it.

[-] 1 points by MattLHolck (16833) from San Diego, CA 1 year ago

is anyone paying attention?

Sanders endorsed gay marriage

[-] 3 points by VQkag2 (16478) 1 year ago

Are you saying that is bad?

[-] 1 points by stevebol (1268) from Milwaukee, WI 1 year ago
[-] 2 points by WSmith (5271) from Cornelius, OR 1 year ago

Cons (dirty liars they are) would have used his attendance as proof that Dems are Commies!

[-] -3 points by TrevorMnemonic (5827) 1 year ago

Obama also endorses illegal drone strikes, a monetary policy based on unlimited resources given to Wall Street, and potentially attacking Iran. Funny that Romney straight up agrees on these 3 issues. It's almost like they're in the pockets of the MIC and the Big Banks.

[-] 3 points by WSmith (5271) from Cornelius, OR 1 year ago

Or Romney is engaging the RepubliCon campaign strategy of BOTH-SAME!!!

Just like you!

[+] -4 points by TrevorMnemonic (5827) 1 year ago

Oh no the Obama campaign guy on the forum is saying I'm a closet Romney supporter. I made a forum post for people just like you!

http://occupywallst.org/forum/revolution-is-the-new-fuck-you/

[-] 2 points by 99nproud (270) 1 year ago

Sounds like you think Obama is our only problem. I guess you are disappointed that 65 million American disagree with you.

[-] 0 points by TrevorMnemonic (5827) 1 year ago

In regards to current use of drones, the president holds more power than any member of the federal government as there is ZERO congressional oversight on the matter. I also give blame to the CIA, but ultimately it is the president authorizing these drones in the end. Why a president would listen to drug smugglers who operate outside of the law is beyond me.

Also I don't do or say things because everyone else is doing it. 99.5% of voters disagreed with me as I was saying BOTH obama and romney were corporate whores yet 99.5% of the public voted for those 2 corporate whores. Congress does share blame though, as they have not used their role to hold anyone accountable. Dennis Kucinich is trying.

Forgive me for thinking Wall Street whores are inexcusable and should not be elected. I don't care which is worse, I don't vote for terrible and terribler.

This current monetary policy which the overwhelming majority of congress and the president support is giving TRILLIONS of dollars to Wall Street.

[-] 2 points by 99nproud (270) 1 year ago

From drones to monetary policy? I say the people are responsible for this drone policy. If we stay silent they will continue. I know that the US has cut in half the number of drone strikes without any real protests, but until we have large protests against drone strikes they will never end. Monetary policy is bankster controlled. That will change when the people (again) force money out of politics. We can't expect politicians to anything for us. They are bought and paid for.

[-] -1 points by TrevorMnemonic (5827) 1 year ago

Goldman Sachs got what they wanted from Obama in 2008

He voted for the Tarp Bailouts as a Senator under the Bush administration and reappointed Bush's Ben Bernanke after taking the presidency.... among other things like not even remotely talking about monetary policy and the desperate need to reform policies that essentially are "give unlimited resources to Wall Street"

Romney would have been Wall Street corruption in government version 2.0... but don't worry... version 1.5 is still crushing America.

[-] 2 points by WSmith (5271) from Cornelius, OR 1 year ago

President Lincoln gave Big Railroad everything they wanted, in order to do his good work.

If we United against the undemocratic powers of greed and tyranny (1%) instead of the Crab Mentality and delusional quest for perfection that keeps us diffused and weak, our leaders would not have to patronize the powers that are always United against US (99%)!!!

Wake Up!!

It's Class War!!

We're Losing!!