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Occupy wall street movement. his name is carne ross, author of the leaderless revolution: how ordinary people will take power and change politics in the 21st century. mr. ross is best known as the diplomat who quit his post in the british government in protest of the iraq war. he now runs a non-profit group called independent diplomat. on this banking stuff, he is working with a part of the occupy wall street movement that calls itself the alternative banking working group. carne ross, thank you for joining us. thanks for having me. what is the overall idea of there being an alternative banking working group? well, i think the idea is that clearly banking was part of the problem, perhaps is the problem at the heart of our economy. of course, the credit crunch. it s an unequal, unfair system that s prone to risk. if you solved banking, maybe you d solve bigger problems in the economy. that s the idea behind the alternative banking group. we re trying to think of alternative syst ....
just got a chance for one more quick question. you followed the banking stuff for so long. sure. europe now in real crisis. the same kind of questions of where s the regulators, the bank capital, a few years after they should have learned from our own meltdown. stress tests being planned here again for our banks. are you optimistic or pessimistic that europe can get its act together and why? well, i m rapidly becoming more pessimistic given that people have been saying for a long time now that europe can get it together and will get it together and still has shown no signs of doing so. look, i think the problems there are fundamental, too. people talk about austerity in various countries as being a solution to the problems, but they are far more structural than, that and i would point to two aspects when i say they are structural. one is obviously the euro which many people are more qualified to discuss than i am, but other part of it is right back to the banks. the banks are i ....
Saying now my chairs and sofa i can get on a truck and get them to martial field in marshall field in chicago and make more money. that s how it works. but if the guys at the top are only doing banking stuff and there is no opportunity, it doesn t create opportunity for you. the small guy. then you can t get rich, too. that s why it makes a difference. the ones who are controlling the government are not creating wealth. they re protecting it at best. at best. most of the time they re destroying the wealth. or sending it overseas. that s why the answer is you, the dreamer. the person who still believes you can change the world. you can. if you don t believe me, in the next few months i ll show you the miles per hoamericans t doing it. ....
Saying now my chairs and sofa i can get on a truck and get them to martial field in marshall field in chicago and make more money. that s how it works. but if the guys at the top are only doing banking stuff and there is no opportunity, it doesn t create opportunity for you. the small guy. then you can t get rich, too. that s why it makes a difference. the ones who are controlling the government are not creating wealth. they re protecting it at best. at best. most of the time they re destroying the wealth. or sending it overseas. that s why the answer is you, the dreamer. the person who still believes you can change the world. you can. if you don t believe me, in the next few months i ll show you the miles per hoamericans t doing it. tonight i ll show you just a couple that have done it. next. who need ....
Does this portend of something more to come? it may. here s the deal. i m not sure this is partisan. i do expect some members of the tea party on the right to vote no on this thing. there s two kinds of compromises. one is one you don t like and one is truly dangerous. there s some campaign finance stuff in here i don t like but i d support it in order to keep the government running. this is dangerous to measure, this banking stuff. we just went through a horrible recession based on the fact that a lot of people in the banking sector were basically playing gambling casino on wall street. and with derivatives but collateralized mortgage obligations, with interest credit default swaps. this is a bad thing. this doesn t create jobs. and it s bad for the country. we will in fact have to bail out the banks again because the banks are too big to fail. so you either have to break up the banks or limit their ability ....