Nomi Prins is the author of the must read book, "All The Presidents' Bankers". It was an honor to have her stop by for this webinar and this recording is well worth your time and attention.
Over the course of this 35-minute presentation, Nomi discusses:
- How the abolition of The Glass-Steagall Act helped to lead to the Financial Crisis of 2008
- The still-growing market share of The Big Six, TBTF banks
- The continuing interconnectivity of bank balance sheets and derivative positions
- How much longer this current system can be maintained
- The likelihood of "bail-ins" as a remedy for the next financial crisis
Again, I can't stress enough the value of Nomi's book. Similar to "The Creature From Jekyll Island", it's almost a history book in that it details the process of how we've found ourselves in this position...where The Federal Reserve is seemingly all-powerful and the major banks are all "Too Big To Fail". Please take the time to read it. Only by knowing how we got here can we ever hope to find a way out.