Episode

1/14 Mehrsa Baradaran: How the Other Half Banks: Exclusion, Exploitation, and the Threat to Democracy

January 14, 2016

Mehrsa Baradaran a Professor at the University of Georgia Law School and author of the new book How the Other Half Banks: Exclusion, Exploitation, and the Threat to Democracy explains the history of the banking sector in America and the split between Hamilton and Jefferson. (11:50)

-The change in banking beginning in the early 1980’s. Community banks and the shifting realities of banking for the poor. Why Hamilton and Jefferson were both right about banking. The New Deal’s strict banking codes and the lack of financial crises for decades following their implementation. Banking deregulation under the Reagan and Thatcher conservative movements. Obama’s “standing between the banks and the pitchforks” and the lack of a push for fundamental change following 2008. The continuity of financial policy under Bush and Obama. (22:20)

-The fundamental inequality between the “banked” and “unbanked.” The huge subsidy that banks receive from the federal insurance. The logic of Post Office banking. How the credit works and how it works for postal banking. Why being in debt isn’t a moral failing. How the poor are left to pure market credit like payday loans and the big banks are federally insured, despite bank failings being far more disastrous. Small credit for the poor meaning the difference between solvency and insolvency. (27:40)

-How postal banking would work in practice. The advantages of postal banking v. payday loans. Where the concept of postal banking has been raised politically. Why Postal Banking is far from radical. (37:50)

On The Fun Half: The military is socialist. The origin story of Jimmy Sullivan. Will Bernie Sanders win Iowa and New Hampshire. Al Jazeera shuts down and Peyton Manning makes a lame joke. The Duck Dynasty guy endorses Ted Cruz. Why the Chelsea Clinton attack on Single Payer healthcare helps Bernie Sanders, how Bernie can campaign better and your calls and IMs.

Members make the Majority Report possible. Please join us by becoming a MEMBER. You can also show your support by clicking thru to the DONATE button for a one-time donation. Thanks!

Past Episodes

Sam and Emma host Mark Joseph Stern, senior writer at Slate, to discuss the recent bombshell SCOTUS opinions, and what other decisions remain to be issued. Then, they are joined by Matt Stoller, Director of Research at the American Economic Liberties Project and author of the BIG newsletter on ...
Sam hosts William Forbath, Associate Dean for Research at the University of Texas at Austin Law School, and Joseph Fishkin,  Professor at the UCLA School of Law, to discuss their recent book The Anti-Oligarchy Constitution: Reconstructing the Economic Foundations of Democracy. Sam first runs ...
Sam hosts Khiara M. Bridges, professor of law at the University of California, Berkeley, to discuss the recent overturning of Roe V. Wade and the repeal of concealed carry laws in New York State by the Supreme Court. First Sam reviews the standards set by this 6-3 conservative Supreme Court, ...