15:01 GMT18 September 2020
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    The Central Bank Becomes Part of the Class War

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    On today’s episode of Double Down, Max Keiser and Stacy Herbert talk to economist and author, Dr Michael Hudson, about the 10 year anniversary of the financial crisis.

    Ten years after the collapse of Lehman Brothers, has anything changed? And who was at fault anyway? Double Down asks economist and author, Michael Hudson, who believes that deregulation was ultimately the genesis of the 2008 crisis and that Bill Clinton played a central role as did Alan Greenspan, the ‘lobbyist for the financial mafia who helped legitimize fraud.' Hudson notes that Barack Obama and Timothy Geithner actually intervened and stopped Hank Paulson from taking steps to dissolve insolvent banks and now the most egregiously criminal of those banks are bigger and stronger ever thanks to taxpayer bailouts. Should another financial crisis happen, as many suspect, Michael Hudson warns that the central bank has joined the class war and, as such, the wealth and income gap is likely to accelerate even further due to how the Fed treats the next banking catastrophe. Tune into Double Down to hear more.

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    income gap, class war, deregulation, financial crisis, wealth, collapse of Lehman Brothers, 2008 Global Economic Crisis, Central Bank
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