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Banking mafia

01.08.2012 00:00
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­The banks can’t help themselves when it comes to taking on risky investments that endanger not only their livelihood if they fail, but the economy of the entire country. Do the words Lehman Brothers mean nothing to the crew directing JP Morgan? Just as the “99 per cent” start to recover (maybe) from the Great Recession, the banks are again playing roulette with the global economy’s future. Is the recent JP Morgan case merely another one-off miscalculation or is it actually a good reflection of the world of banking to this day? If the banks need to be reformed, then how should it be done and by whom? CrossTalking with Andrew Schiff, Sam Bowman and Robert Gnaizda on May 21.