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assignment 8

To prepare for the last group projects on thursday

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To prepare for the last group projects on Thursday, watch the following episode of the news show “Bill Moyers Journal”: http://www.pbs.org/moyers/journal/01082010/watch.html After viewing the video (or reading the transcript) please answer the following questions: a. According to the film, what three companies will receive $20 billion in tax deductions? Morgan Stanley, JPMorgan Chase and Goldman Sachs. b. Who is Barney Frank? Brad Sherman? Mark Patterson? Barney Frank is the former chairman of the House Financial Services Committee. Brad Sherman is the Representative of the House Mark Patterson is a hedge fund manager. They are all part of the lobbyists for the wall street. c. What is intellectual capture? It means that the financial system is captured by the wall street, under total control of the wall street. They make the financial system to think about the wall street’s best interests. d. According to Kevin Drum, what is the average rate of interest paid on an overdraft fee? Average rate of interest rate is 10000% and $17 in overdraft fees. e. According to the commentators, what should Obama do about the banks? Do you agree? He think that Obama should take action, he have his slogan of change for years, and
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To prepare for the last group projects on Thursday watch...

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