During the 2008 financial meltdown, we were told by politicians, economists, bankers and industry executives that further implosion of major financial institutions would wreak havoc on the larger economy. The banks were “too big to fail,” we were told, and if the financial markets faltered, that would be bad for the rest of us. But since the financial gains of the past several years haven’t trickled down, many are wondering why we continue to be held captive by the same financial system that caused the mess in the first place. On this week’s edition of The Breakdown, finance blogger Mike Konczal joins DC Editor Chris Hayes to discuss what’s behind this “financialization” of the economy, how it happened and whether there’s anything that can be done to change it.
Mike Konczal’s finance and economics blog, Rortybomb.
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