Kuttner blames "insiders with conflicts of interest" for meltdown danger, tanking of dollar
Paul Joseph Watson
"I think there are three big parallels between what happened in the 20's and what has been happening in Wall Street lately," Robert Kuttner told Moyers.
Kuttner is a veteran economic journalist and a former legislative assistant in congress.
"One is insiders with conflicts of interest that are not fully disclosed to the public generally, secondly - there's much too much borrowed money....particularly in the financially engineered parts of the economy....and third is the lack of transparency - regulators and the public don't get any kind of disclosure," added the former BusinessWeek writer.Kuttner blamed an economy based on "asset bubbles" for the rising tension in the markets and said that, similarly to the 1920's, "engineered euphoria" and companies cooking the books had combined to endanger the safety of the economy.