Tuesday, May 08, 2012

"Former Labor Sec. Robert Reich on Clinton’s Errors of Crippling Welfare to Repealing Glass-Steagall" (video)

Democracy Now! with video:
Former Secretary of Labor Robert Reich critiques President Obama’s handling of the economic crisis and the Clinton administration’s repeal of the Glass-Steagall Act, a key deregulatory move that ended the separation of commercial and investment banking and is widely seen as having helped lead to the financial collapse. The Clinton administration also presided over a drastic transformation of U.S. welfare laws, throwing millions off of welfare rolls. "I went outside of the White House, walked back to my office along Constitution Avenue, expecting I would see signs. ... There are a lot of people who were concerned about that issue. But there was nobody on the streets. It was deafening. The silence was deafening," Reich says of the day Clinton signed the change into law. He notes this is when he realized, "if people who are concerned about the increasing concentration of wealth and power in this country are not mobilized, are not visible, then nothing progressive is going to happen."
Howie P.S.: Reich is not just critical of Clinton in this interview.

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