An excellent interview of John Bogle by Bill Moyers. It's a lengthy piece, but Bogle speaks eloquently about the current unsustainable state of our economy, at once weakened by both overspending and a financial services industry that is quite literally sucking its lifeblood. Bogle strikes me as extremely intelligent, and as I learn more about finance and the economy, I can see how machinations on Wall Street can directly affect Joe Consumer.
He's right though. There needs to be change. Some sort of regulations. We cannot sustain what is eroding our economic vitality as a nation, from both a financial and ethical standpoint.
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