by Overview: This was an impromptu conversation precipitated by former Congressman Dennis Kucinich to have a deep dive discussion with a former economic advisor, Michael Hudson, on the shockingly large recent bank collapses. As the former chair of the powerful Government Oversight Subcommittee, Kucinich had a ringside seat in unraveling the bank collapses after the housing bubble burst. He confronted the players in the field with withering questions in Congressional hearings. Now Kucinich wanted important feedback from a banking insider on how this crisis was different than the one in 2008.Kucinich knew that Hudson was a former Wall Street banker/investment professional who worked for Chase Bank and then the Hudson Institute as well as managing the second most successful bond mutual fund one
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Overview: This was an impromptu conversation precipitated by former Congressman Dennis Kucinich to have a deep dive discussion with a former economic advisor, Michael Hudson, on the shockingly large recent bank collapses. As the former chair of the powerful Government Oversight Subcommittee, Kucinich had a ringside seat in unraveling the bank collapses after the housing bubble burst. He confronted the players in the field with withering questions in Congressional hearings. Now Kucinich wanted important feedback from a banking insider on how this crisis was different than the one in 2008.
Kucinich knew that Hudson was a former Wall Street banker/investment professional who worked for Chase Bank and then the Hudson Institute as well as managing the second most successful bond mutual fund one year. Hudson has often candidly admitted that everything he really learned about economics came on Wall Street and not in his Ph.D. classes.
Hudson’s first assignment at Chase was to figure how much money South American debtor countries could pay without collapsing. His intense and ground-breaking research into the predatory balance of payments system led to his first (of many) books, Super Imperialism, now in its third printing. The meeting was moderated by a close friend to both: David Kelley.The meeting was arranged the day before and, at the last minute, it was decided to record it. After the meeting the participants agreed that while the production quality was minimalist, the topics covered had been largely missed by the mainstream media and was worthy of being released. The transcript has been lightly edited to make it more readable and to keep all salient comments and vocabulary.…
Somewhat longish and sprinkled with a lot of shooting from the hip, but interesting nonetheless because of the participants.
Michael Hudson — On Finance, Real Estate And The Powers Of NeoliberalismWith Dennis Kucinich on the Financialized Economy, Collapse
David Kelley interviews Dennis Kucinich and Michael Hudson