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." Reich is professor of public policy at the University
of California at Berkeley. He has written 13 books, including
"Aftershock: The Next Economy and America’s Future." His latest, an
e-book, is just out: "Beyond Outrage: What Has Gone Wrong with Our
Economy and Our Democracy, and How to Fix Them."Video
Source: Democracy Now!
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