Tweet
Changing a System of Our Own Creation
10 min (embedded version) click on watch full program to see all 20 mins
Paul Jay speaks to Sony Kapoor at the Tides Foundation's Momentum conference in San Francisco. Kapoor, a former investment banker, explains that the financial system over complicates its own products in order to prevent easy copying, to extract maximum profits, and to confuse its customers, to further extract profits. He also speaks about how much of the global economy is based on the financial sector evading taxes, and says how that must be changed. "We need more compartmentalization in finance, be it the Glass-Steagall Act, separating commercial banking from investment banking... risk should be borne by people who are best qualified to bare it, and they should be regulated differently, and everything should be watched by the regulator."
Leaving Lehman, exposing Wall Street Part 1/7
Sony Kapoor left life as an investment banker to reveal the "dark magic" of finance capital
12'25"
Part 2/7
8'48"
Part 3/7
More volatility equals more profit
Sony Kapoor PT3: The more volatile the financial environment is, the more profit investment banks make
8'52"
Part 4/7
Derivatives and tax havens
Kapoor Pt4: One-third of all global economic activity passes through tax havens, with little difficulty
12 min 22 sec
Part 5/7
Kapoor: The financial reforms on the table are not enough
12'41"
Part 6/7
The Federal Reserve and about the movement to "de-dollarize" the world
9'13"
Part 7/7
When progress is measured by how the things that are going wrong slow down, you have a problem.
8'49"
Sony Kapoor's Blog
10 min (embedded version) click on watch full program to see all 20 mins
Paul Jay speaks to Sony Kapoor at the Tides Foundation's Momentum conference in San Francisco. Kapoor, a former investment banker, explains that the financial system over complicates its own products in order to prevent easy copying, to extract maximum profits, and to confuse its customers, to further extract profits. He also speaks about how much of the global economy is based on the financial sector evading taxes, and says how that must be changed. "We need more compartmentalization in finance, be it the Glass-Steagall Act, separating commercial banking from investment banking... risk should be borne by people who are best qualified to bare it, and they should be regulated differently, and everything should be watched by the regulator."
Leaving Lehman, exposing Wall Street Part 1/7
Sony Kapoor left life as an investment banker to reveal the "dark magic" of finance capital
12'25"
Part 2/7
8'48"
Part 3/7
More volatility equals more profit
Sony Kapoor PT3: The more volatile the financial environment is, the more profit investment banks make
8'52"
Part 4/7
Derivatives and tax havens
Kapoor Pt4: One-third of all global economic activity passes through tax havens, with little difficulty
12 min 22 sec
Part 5/7
Kapoor: The financial reforms on the table are not enough
12'41"
Part 6/7
The Federal Reserve and about the movement to "de-dollarize" the world
9'13"
Part 7/7
When progress is measured by how the things that are going wrong slow down, you have a problem.
8'49"
Sony Kapoor's Blog
Comment