For example-and MF Global is an example of something blowing up-Goldman Sachs has-the partnership of the amount of derivatives they're trading about the number of assets they have has expanded by something like 30 percent. AMY GOODMAN: The New York City Times has an interesting description, stating, "His fixation with trading appeared to MF Global experts over his 19-month tenure. AMY GOODMAN: Toward completion of the book, you have this confrontation in a courtroom. And Leila, the main personality, has to, since she comes in contact with information regarding it, either neglect it and go about her life or challenge Jack Morgan, that is the-he's a genuine character-in guide, it's a fictional account. It's brought on by scams. NOMI PRINS: I assume it's amazing that there's a visible and vocal team of people across the country and linked throughout the world that are claiming, "Look, what's taking place at this degree, at the bank level, at the scams degree, at the inequality level, at the economic trouble level, this is not triggered by us. The idea there existed was a scams committed versus a significant component of the population. So, you can call it anything you intend to call it, however the reality is that these banks, that allowed before the subprime part of what is currently a worldwide situation, are larger than they were.
MF: Yeah. So, yes, a write-up came out in the local paper stating that she had actually been jailed. And so, this is not a male that had not been aware of the problem that the firm was in, and the fact that it went bankrupt all of an unexpected wasn't some large shock. But I intended to create it as a novel to consider the humanistic impact, the heart, 屄毛 the influence, and take an appearance at a tale that's truly just about a young woman pertaining to America, understanding nothing regarding this, and living in the Lower East Side in her tenement apartment with her dying auntie and her relatives who work with the docks on Fulton Street, and seeing that life daily, and after that entering contact with the Wall Street life with operating at a Wall Street diner, and just her navigating those 2 worlds. And she really confronts him in a court, with a whole lot of individuals that actually intend to tell him what they think about him. Tell me-come here prepared. I 'd claim something clever below but it would be as well noticeable.
And I would certainly have them there, and I would certainly state, "That is unsatisfactory. The IRS doesn't analyze; they do not claim: Oh, do you do a good work? And there's a love interest in it to kind of have more of the human measurement in the struggle and the moral implications of that to her, due to the fact that she doesn't start to be an activist or a heroine. NOMI PRINS: One of the things that their books indicated was that he was so-called hedged versus these European bets, meaning, also though he had obtained money in order to remain in these bets, also when they were shedding cash and kept putting even more and extra right into them, that someplace along the road he was hedged, or he reduced that exposure someplace else, which makes no feeling, because if you remain in the wager and you're placing whatever into that bet, you're not attempting to decrease the direct exposure. And that's why clients' money somehow went away.
And it turned out he really did not have adequate money left, where he had obtained, in order to remain in that profession. The amount of neoliberal Republicans called out Donald Trump, for instance, when he released his presidential campaign by pretending insistently for six long years (with definitely no proof) that the first African American President governed illegally. The risk for the Republicans of embracing the Southern Strategy (of bring in white citizens by interesting racism versus African-Americans) was constantly that it would certainly constrain them to, well, the South. A whole lot of men were detained, same like with the Occupy activities, and obviously no person on Wall Street back then was apprehended, either. NOMI PRINS: Right, and it doesn't secure consumers, and it really did not change Wall Street. AMY GOODMAN: The Dodd-Frank Wall Street Reform and Consumer Protection Act. AMY GOODMAN: We have actually seen a few of the biggest mass protests in the background of this country right here in New york city with the Occupy Wall Street movement.