Home > Economic History, Financial Markets > Jeffrey Sachs on the OWS

Jeffrey Sachs on the OWS

Dan Rather of HDNet interviews Professor Jeffrey Sachs of Columbia University about OWS. Sachs mentions that the OWS is not so much about the inequality of income but the irresponsibility and illegallity of the banking sector. Moreover how they brought down the financial system in such a reprehensible way. He also talks of the Glass Stegal Act and how we need to look after the average american. In the Depression Franklin Roosevelt said that we are not going to allow speculation of Wall Street ruin the economy and this led to the Securities Exchange Commission (SEC) being established as well as the Glass Stegal Act. After the deregulation in the 1990’s it was basically “off to the races”

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