We speak with Nomi Prins, an author and former investment banker at Bear Stearns, and Max Fraad Wolff, an economist and writer. A year ago, Treasury Secretary Henry Paulson predicted the fallout from the subprime mortgage crisis was “largely contained.” But now, Alan Greenspan is admitting the current economic crisis will likely be the most wrenching since the end of the Second World War. And then, there’s the occupation of Iraq, which has just entered its sixth year. The Nobel Prize-winning economist Joseph Stiglitz projects the war will cost at least $3 trillion. We’re joined right now by two guests. Nomi Prins is with us. She’s a former investment banker turned journalist. She used to run the European analytics group at Bear Stearns. She is the author of two books: Other People’s Money: The Corporate Mugging of America and Jacked: How “Conservatives” Are Picking Your Pocket. She’s now a senior fellow at the think tank Demos. Max Fraad Wolff is an economist and writer. He is an instructor at the Graduate Program in International Affairs, New School University, here in New York. He’s a frequent contributor to the Huffington Post, Asia Times and The Indypendent. We welcome you both to Democracy Now! Nomi Prins, this story is personal for you. You worked at Bear Stearns. www.democracynow.org
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