Frontline: Too-Big To Fail Banks Are Bigger Than Ever

Last night, the Old Soldier watched the second part of an investigation done by Frontline, the television news program, on Wall Street and the big banks that caused the recent great recession.

Very little has changed.  On Wall Street it is business as usual.

Oh, sure, the bankers agreed to a few restrictions; but nothing has really changed.  And neither major party, the Democratic or the Republican Party, have the will to reform the banking system.

Banking District

Banking District (Photo credit: bsterling)

The conclusion: it is only a matter of time before there is another banking crisis that will devastate Main Street again.

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In the meantime, the Occupy Movement recently grabbed some media attention by holding demonstrations throughout the country in the past few days.

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Richard S. Caliguiri City of Pittsburgh Great Race

Richard S. Caliguiri City of Pittsburgh Great Race (Photo credit: Wikipedia)

Hello, everyone.  The high will be around 80 degrees on a cloudy day in Pittsburgh today with the possibility of scattered thunder showers.  I hope you are all doing well.

The annual Pittsburgh Great Race will take place on Sunday May 6th.  Part of the race will go through Bloomfield, a 15-minute walk from my apartment.  Bloomfield makes the Pittsburgh Great Race a neighborhood festival.  The Old Soldier is thinking about attending the festivities.

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Governor Rendell Eliminates Funding For Public Television

Governor Rendell has had to make some difficult decisions about the state budget.  Some funding has been cut back and some funding has been eliminated.  Funding for the Public Broadcasting System in Pennsylvania has been eliminated.  The following are some of the public television programs that may be at risk.

Mystery

Charlie Rose

Frontline

Nova

Nature

Nightly Business Report

Bill Moyers

Austin City Limits

Sound Stage

The News Hour

Antique Road Show

BBC News

Washington Week In Review

Will Public Television Survive In Pennsylvania?

The world wide economic recession has impacted public television in Pennsylvania.  Like all governors in the United States, Governor Rendell has had to make some tough decisions about the budget: where to scale back and were to cut.  The axe came down on public television.  State funding for public television in Pennsylvania has been eliminated.

I watch WQED all the time.  And now with a TV converter box, I can get WQED-1, 2 and 3.  Public television provides telecasts that a viewer cannot get anywhere else.  There is ballet, music, opera,  nature, science, the environment, politics and religion.  I would content that shows like Frontline, Bill Moyers, Nightly Business Report and the six o’clock news broadcast with Jim Lehrer are essential to an informed citizenry.  The mainstream media gives American voters pap.  These news shows give American voters badly needed insights.  It’s in-depth reporting.  Something the public must have.

Now this insight is in danger.

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