Bill Moyers sits down with William K. Black, the former senior regulator who cracked down on banks during the savings and loan crisis of the 1980s. Black offers his analysis of what went wrong and his critique of the bailout.

I love the term they are using for bankers who deliberately defraud society – “banksters”. Black says the entire financial system is one big ponzi scheme, making Bernie Madoff looking like an amateur and fall guy for the larger crime which involved the entire financial system and governments who allowed them to go unregulated.