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GRITtv: The F Word: Gambling States Down the Drain

9 years ago64 views

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GRITtv

Does it seem right to you that a state's ability to stay afloat should be the stuff of secretive betting pools? No? Well that's just what's going on. As states like California struggle to pay their bills, traders are gambling, buying credit default swaps, on the fate of our biggest state. And it's worse. The same banks that sell and profit off the swaps, at the same time underwrite and price the state's assets -- their municipal bonds. GRITtv with Laura Flanders brings participatory democracy onto your computer screen and into your living room, bridging the gap between audience and advocates. Watch any show, at any time: http://grittv.org Distributed by Tubemogul.

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