Banks, Bailouts and Pyramids - Wed 6pm

In the effort to save the economy, political leaders said many of the banks were “Too big to fail.” Nomi Prins says, “When you’re too big to fail, life is a one-way bet. When you gamble and win, you walk off with the profits. When you gamble and lose, the taxpayer picks up the tab.” The banks gambled, they lost, and the taxpayer picked up the tab. And now there is talk about regulatory reform, but the foxes are designing the hen house. Nomi Prins is a former investment banker turned journalist. She worked at Goldman Sachs and Bear Stearns. Her articles appear in major newspapers and magazines. She is the author of "It Takes a Pillage."