1
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[Robert Reich]
<i>In 1964, I got a job on a radio station.</i>

2
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<i>They needed somebody from midnight to,</i>
<i>it must have been, 4:00 or 6:00 a.m.</i>

3
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<i>The station policy was you can only play</i>
<i>the same Top 10 songs,</i>

4
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<i>over and over and over again.</i>

5
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<i>I just... I was so bored, that I... I...</i>

6
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<i>I announced on the air,</i>

7
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<i>"If anybody's listening to this program</i>

8
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<i>and would like to engage</i>
<i>in a little bit of a banter,</i>

9
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<i>just a little discussion -</i>
<i>not much, just 30 seconds -</i>

10
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<i>it would be great.</i>

11
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<i>And I'll give you 25 bucks,</i>
<i>the first person who calls in."</i>

12
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<i>This was before talk radio, by the way.</i>

13
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<i>And nobody called in.</i>

14
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<i>I upped it to $50.</i>

15
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<i>Nobody called in.</i>

16
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<i>I got up to $100.</i>

17
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<i>Not a soul called in.</i>

18
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<i>And I had a feeling...</i>

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<i>of what so many people have felt,</i>

20
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<i>and continued to feel for years,</i>

21
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<i>of desperately wanting to be heard...</i>

22
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<i>and nobody is listening.</i>

23
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[all chant] The whole world is watching!

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[shouts] Protect who you serve!

25
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You work for us!

26
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Work hard - we have!

27
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[Reich] <i>There's a huge amount of anger</i>
<i>and frustration in the United States.</i>

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It's been growing for years.

29
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<i>People are worried about their jobs,</i>
<i>they're worried about their wages.</i>

30
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<i>They feel like they don't have a voice</i>
<i>in deciding anything</i>

31
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<i>that pertains to them,</i>

32
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<i>politically or economically.</i>

33
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I pick this up everywhere I go.

34
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<i>Americans all over the country</i>
<i>are asking...</i>

35
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[applause]

36
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<i>"How can we make our voices heard?"</i>

37
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[indistinct conversation]

38
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[cheering]

39
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Well, thank you.

40
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[loud applause]

41
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The name of the book is <i>Saving Capitalism.</i>

42
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I've got two kinds of reactions
just to the title.

43
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"Saving Capitalism? Wait a minute.

44
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That implies that
there's something wrong with capitalism."

45
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How are you paying for this?

46
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There are others who say...

47
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"Why would you want to save capitalism?"

48
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[laughter]

49
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[announcer] <i>Robert Reich,</i>
<i>Professor of Public Policy at UC Berkeley</i>

50
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<i>and former Secretary of Labor</i>
<i>under President Clinton.</i>

51
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[Geist] <i>You've captured this moment</i>

52
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<i>in American culture</i>
<i>and politics very well in this book.</i>

53
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<i>It's </i>Saving Capitalism:
For the Many, Not the Few.

54
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[Mike Barnacle]
We've got 20 seconds. Can you...?

55
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[Reich] I thought we'd have
more time than that.

56
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[laughter]

57
00:03:25,080 --> 00:03:27,666
Can you define the aspirations
of the middle class today,

58
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as opposed to 30 years ago?

59
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I think the aspiration
of the middle class today

60
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is almost exactly what it was
30 years ago.

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That is: "Let's have a better life."

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"If I'm working hard,
I want my children to have a better life."

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Upward mobility is what people expect from
this system, but they aren't getting it.

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Most Americans now
have severe doubts about the system.

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They think the system is rigged.

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The real issue is,
is the system working for most people,

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or is it working for a very small group,

68
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becoming smaller and smaller at the top?

69
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Robert Reich, thank you very much
for being with us.

70
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<i>Former Labor Secretary</i>
<i>under President Clinton...</i>

71
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These days, a lot of people certainly know
the game is rigged.

72
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They hear that, they feel it.

73
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But they don't know
exactly how it's rigged.

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[Reich] <i>I wanted to go to where people</i>
<i>didn't really know me, my books...</i>

75
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I wanted to go to places
where I could actually interact.

76
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<i>I didn't expect to sell many books,</i>
<i>but I did hope to learn something.</i>

77
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[Yuja] You found us.

78
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-[Reich] Hi, Yuja.
-[Yuja] Welcome.

79
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-[Reich] Nice to see you.
-[Yuja] So great to finally meet you.

80
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Look who we found.

81
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-Morning!
-Reverend Sandoval.

82
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-Welcome to Kansas City.
-Reverend.

83
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-Thank you.
-Claudia Nelson.

84
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Hi, Claudia.

85
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-You're Chair of the Board?
-I'm the Chair.

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I am a part of this work
because of my family and my community.

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My youngest son, Paul,

88
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is married and has four little children.

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He's worked all of his life.

90
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But unlike when I started to work
as a young person,

91
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he seems to find jobs
that don't have a livable wage.

92
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They're not full-time jobs.

93
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He works 60 hours-plus a week
to take care of his wife and four kids,

94
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and still struggles a lot,

95
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even to the point that
he's had to move back in my house

96
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with his family of six at one point,

97
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because they continued to struggle.

98
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His wife has $100,000 in debt
in student loans.

99
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She has a Master's degree. She has no job.

100
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It is not an uncommon story
in our community.

101
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Unfortunately, Claudia,
I'm hearing it all the time.

102
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And it's...

103
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It's a story that affects
huge numbers of Americans.

104
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A lot of these things
that we're talking about, to me,

105
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is all a spin-off...

106
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of...

107
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an economy that has been immoral

108
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from its inception.

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It was not designed to include everyone...

110
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in a fair way,

111
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in the sense of access.

112
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How do you reform something
that's immoral...

113
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at its core?

114
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There's nothing inherent
in an economic system

115
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that makes it either immoral or moral,
or good or bad.

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It depends on how it's organized.

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And if it's organized for people,

118
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then it can be a good and moral system.

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[Reich] <i>Our American economic system -</i>

120
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<i>capitalism -</i>

121
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<i>is a system based on private property</i>

122
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<i>and a free exchange of goods and services.</i>

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One of America's greatest strengths
is our free market.

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Let the free market system decide.

125
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We all believe in the free market.

126
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You know, that's...

127
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That's what
our capitalist system is about.

128
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The law of supply and demand
operating unimpeded by government.

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Government is not the solution
to our problem,

130
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government is the problem.

131
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Few ideas have more profoundly poisoned
the minds of so many

132
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as the notion of a free market

133
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existing somewhere in the universe...

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into which the government intrudes.

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<i>There's no such thing as a free market</i>

136
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<i>without government</i>
<i>making the rules of the game.</i>

137
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<i>What kind of rules?</i>

138
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<i>Rules governing property.</i>

139
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<i>Monopoly.</i>

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<i>Contracts.</i>

141
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<i>Bankruptcy.</i>

142
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<i>And enforcement.</i>

143
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<i>Let's take property.</i>

144
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<i>Until the 1860s,</i>

145
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<i>human beings were lawful property</i>
<i>in the United States.</i>

146
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<i>It took years of activism and a civil war,</i>

147
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<i>but Americans</i>
<i>finally made slavery illegal.</i>

148
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<i>We'll take bankruptcy.</i>

149
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<i>If you're a big business,</i>

150
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<i>you can declare bankruptcy</i>
<i>over and over again</i>

151
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<i>to protect your assets.</i>

152
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<i>But if you're a student,</i>

153
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<i>you can't reorganize your debt</i>
<i>in bankruptcy.</i>

154
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<i>Or if you're a homeowner who's under water</i>
<i>because the market has collapsed,</i>

155
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<i>you can't use bankruptcy.</i>

156
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<i>It's illegal.</i>

157
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<i>These rules don't come from nature.</i>

158
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<i>They reflect the interests</i>
<i>of those with the most power.</i>

159
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<i>Which means they change over time.</i>

160
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[cheering]

161
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[cheering continues]

162
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In the name of all those
who do the work,

163
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pay the taxes,

164
00:08:44,691 --> 00:08:47,235
raise the kids and play by the rules...

165
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In the name of the hard-working Americans
who make up our forgotten middle class,

166
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I proudly accept your nomination

167
00:08:55,952 --> 00:08:58,496
for President of the United States.

168
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[loud cheering]

169
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[Reich] <i>Just about 50 years ago,</i>

170
00:09:04,377 --> 00:09:05,503
<i>I met Bill Clinton.</i>

171
00:09:07,714 --> 00:09:09,883
<i>I had already met Hillary Rodham.</i>

172
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<i>She was an undergraduate at Wellesley.</i>

173
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<i>I had been president of my class</i>
<i>at Dartmouth.</i>

174
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<i>We were both involved</i>
<i>in student government.</i>

175
00:09:20,310 --> 00:09:22,520
So I knew her and I knew Bill. And I...

176
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Even the first day of Yale Law School,

177
00:09:24,814 --> 00:09:28,568
I was sitting in the cafeteria
talking to Bill Clinton,

178
00:09:28,651 --> 00:09:31,237
and Hillary came up and she said,
"Bob, how are you?"

179
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I said, "Great, Hillary.

180
00:09:32,822 --> 00:09:35,992
I want to introduce to you
my friend from Oxford.

181
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We were just at Oxford together.
Bill Clinton."

182
00:09:38,328 --> 00:09:39,537
She said, "Hi, Bill."

183
00:09:39,621 --> 00:09:41,998
And he said, "Hi, Hillary."

184
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[Reich] <i>And then, 25 years ago,</i>

185
00:09:46,002 --> 00:09:47,545
<i>Bill Clinton called me.</i>

186
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<i>He wanted me to be his Secretary of Labor.</i>

187
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I was excited,

188
00:09:52,258 --> 00:09:55,512
because maybe we could actually
make some real, real progress.

189
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<i>You had this pent-up demand</i>
<i>in the country</i>

190
00:10:00,308 --> 00:10:02,143
<i>for something</i>
<i>that is very, very different,</i>

191
00:10:02,227 --> 00:10:04,062
<i>that has a different vision.</i>

192
00:10:05,230 --> 00:10:09,984
<i>We wanted to create the possibilities</i>

193
00:10:10,527 --> 00:10:15,740
<i>for people who were not really yet</i>
<i>participating in the economy.</i>

194
00:10:16,074 --> 00:10:18,243
Because it was building
the future of the country.

195
00:10:18,326 --> 00:10:22,205
It was building the capacity
of the country to not only grow,

196
00:10:22,288 --> 00:10:25,166
but to bring everybody along
in that growth.

197
00:10:25,250 --> 00:10:27,585
[loud cheering]

198
00:10:30,713 --> 00:10:31,756
<i>We were young.</i>

199
00:10:31,840 --> 00:10:33,967
<i>We were the new generation.</i>
<i>We were the boomers.</i>

200
00:10:34,968 --> 00:10:36,261
<i>I was gonna go down</i>

201
00:10:36,344 --> 00:10:40,473
<i>and try to help him figure out</i>
<i>what to do about the economy.</i>

202
00:10:41,474 --> 00:10:45,186
In <i>Focus </i>this evening,
the shrinkage in America's middle class.

203
00:10:45,270 --> 00:10:47,730
Even though the economy is now growing,

204
00:10:47,814 --> 00:10:51,693
many of the jobs it is creating
pay poverty wages.

205
00:10:52,235 --> 00:10:55,738
[reporter] <i>President Clinton</i>
<i>has been promising wages would rise.</i>

206
00:10:56,322 --> 00:10:58,032
<i>But, at the Labor Department,</i>

207
00:10:58,116 --> 00:11:02,829
<i>Secretary Robert Reich</i>
<i>sees the number of working poor growing.</i>

208
00:11:03,580 --> 00:11:06,833
More and more of the nation's
income and wealth were going to the top.

209
00:11:06,916 --> 00:11:09,836
People in the middle - the middle class -

210
00:11:09,919 --> 00:11:11,671
were under greater and greater stress.

211
00:11:11,754 --> 00:11:14,299
The poor were not doing well at all.

212
00:11:14,382 --> 00:11:16,885
I thought we could
actually reverse that direction.

213
00:11:18,928 --> 00:11:21,639
I spent a lot of time all over America,

214
00:11:21,723 --> 00:11:27,061
and what I got back from people
was a lot of the skepticism and cynicism

215
00:11:27,145 --> 00:11:28,730
and the beginnings of the anger

216
00:11:28,813 --> 00:11:32,901
that has really emerged full force
in 2016.

217
00:11:32,984 --> 00:11:34,360
It was just beginning then.

218
00:11:39,449 --> 00:11:42,827
[Tim] <i>A pleasure to introduce</i>
<i>Secretary Reich to the Show Me state,</i>

219
00:11:42,911 --> 00:11:43,953
<i>and to mid-Missouri.</i>

220
00:11:44,495 --> 00:11:45,538
Thank you for being here.

221
00:11:46,372 --> 00:11:47,415
As Tim said...

222
00:11:47,498 --> 00:11:48,333
I'm...

223
00:11:48,708 --> 00:11:51,461
This started out as a book tour.

224
00:11:51,544 --> 00:11:53,338
You know? I've done a lot of books.

225
00:11:53,421 --> 00:11:55,048
I've written a lot of books.

226
00:11:55,131 --> 00:11:58,593
I've tried to help people understand
what's really going on.

227
00:11:58,676 --> 00:12:00,637
I don't want to just
go out to book stores.

228
00:12:00,720 --> 00:12:02,764
I really want to talk to people
about their lives.

229
00:12:02,847 --> 00:12:03,973
[cow moos loudly]

230
00:12:04,057 --> 00:12:05,016
Yes, that's true!

231
00:12:05,099 --> 00:12:06,017
[laughter]

232
00:12:06,768 --> 00:12:07,727
[Reich] That's great.

233
00:12:07,810 --> 00:12:11,189
My name is Darvin Bentlage
and I'm a farmer.

234
00:12:11,814 --> 00:12:12,857
And...

235
00:12:13,650 --> 00:12:16,027
There are other names
they use for me, but...

236
00:12:16,903 --> 00:12:19,948
I just mainly go by "farmer"
and "cattle man."

237
00:12:22,492 --> 00:12:25,536
<i>The family farm has been around</i>
<i>for 80 years.</i>

238
00:12:26,788 --> 00:12:29,749
<i>You're kind of raised into it, you know?</i>

239
00:12:29,832 --> 00:12:33,211
<i>I jumped on my first tractor</i>
<i>when I was ten years old.</i>

240
00:12:33,294 --> 00:12:35,129
<i>I could barely reach the pedals.</i>

241
00:12:37,131 --> 00:12:38,633
<i>It's a lot of hard work.</i>

242
00:12:39,258 --> 00:12:43,012
<i>Our margin of profits are way down,</i>
<i>you know?</i>

243
00:12:43,096 --> 00:12:47,183
<i>Farm income this year</i>
<i>has been predicted to drop 50%.</i>

244
00:12:48,518 --> 00:12:51,980
Well, excuse me.
Nothing I buy has dropped 50%.

245
00:12:52,563 --> 00:12:56,109
I don't think anything
in the grocery store has dropped 50%.

246
00:12:58,152 --> 00:13:01,072
<i>I have a son who would kind of like</i>
<i>to come back on the farm.</i>

247
00:13:03,616 --> 00:13:09,998
There's nothing that I would want more
than to sell my home and move down here.

248
00:13:10,081 --> 00:13:12,583
The fiscal part of it is pretty rough.

249
00:13:13,126 --> 00:13:16,754
What kind of profit margins
are you pulling in a year?

250
00:13:17,338 --> 00:13:19,257
Oh, the profit margins, yeah.

251
00:13:19,340 --> 00:13:21,134
It varies, but...

252
00:13:21,926 --> 00:13:24,303
The total deal, you know...
I make around...

253
00:13:25,096 --> 00:13:25,930
Um...

254
00:13:26,347 --> 00:13:29,142
The year before was like $320,000.

255
00:13:29,559 --> 00:13:31,102
-You spent...
-[Darvin] $300.

256
00:13:31,185 --> 00:13:33,855
$300, so, in my mind,

257
00:13:33,938 --> 00:13:35,648
your profit margin...

258
00:13:36,399 --> 00:13:38,818
would have been $20,000.

259
00:13:39,485 --> 00:13:40,445
Correct?

260
00:13:41,529 --> 00:13:42,363
Yeah.

261
00:13:44,824 --> 00:13:47,744
There is a vicious cycle that has set in.

262
00:13:48,703 --> 00:13:50,455
The American economy today

263
00:13:50,538 --> 00:13:53,583
is almost twice as large
as it was in 1980.

264
00:13:53,666 --> 00:13:56,586
But the median wage has gone nowhere.

265
00:13:56,669 --> 00:13:58,671
If fact, if anything,
most Americans' wages,

266
00:13:58,755 --> 00:14:00,798
adjusted for inflation, have declined.

267
00:14:00,882 --> 00:14:03,801
So where did all the money go?
It went upward.

268
00:14:09,766 --> 00:14:13,478
<i>In 2014,</i>
<i>corporate profits before taxes</i>

269
00:14:13,561 --> 00:14:16,314
<i>reached their highest share</i>
<i>of the total economy</i>

270
00:14:16,397 --> 00:14:18,232
<i>in at least 85 years.</i>

271
00:14:20,026 --> 00:14:23,404
<i>Meanwhile, the percentage of the economy</i>
<i>going to people's wages</i>

272
00:14:24,072 --> 00:14:25,573
<i>has dropped dramatically.</i>

273
00:14:29,327 --> 00:14:33,998
<i>Hidden inside the rules of the market,</i>
<i>money flows upwards -</i>

274
00:14:34,082 --> 00:14:36,125
<i>out of the pockets of average Americans,</i>

275
00:14:37,126 --> 00:14:40,213
<i>and into the profits of major industries,</i>

276
00:14:40,296 --> 00:14:41,714
<i>executives</i>

277
00:14:41,798 --> 00:14:43,216
<i>and shareholders.</i>

278
00:14:46,552 --> 00:14:49,931
The vicious cycle is that,
as income and wealth go to the top,

279
00:14:50,348 --> 00:14:52,141
so does political power.

280
00:14:52,975 --> 00:14:55,436
And here is where it gets interesting,

281
00:14:55,520 --> 00:14:58,022
because as political power
goes to the top,

282
00:14:58,106 --> 00:15:01,234
the top has more and more ability

283
00:15:01,317 --> 00:15:04,779
to influence the rules of the game.

284
00:15:15,081 --> 00:15:19,836
[Reich] <i>I began my political education</i>

285
00:15:20,545 --> 00:15:23,464
<i>when I went to Washington in 1967</i>

286
00:15:23,548 --> 00:15:26,217
<i>as an intern for Robert F. Kennedy.</i>

287
00:15:29,011 --> 00:15:30,930
<i>Being in Washington was thrilling.</i>

288
00:15:32,014 --> 00:15:34,851
<i>People in the bottom 20%</i>
<i>were getting ahead.</i>

289
00:15:36,477 --> 00:15:37,603
<i>In 1964,</i>

290
00:15:37,687 --> 00:15:41,190
<i>when our large and growing</i>
<i>middle class was the envy of the world,</i>

291
00:15:41,274 --> 00:15:45,570
<i>roughly 77% of Americans</i>
<i>said they trusted government</i>

292
00:15:45,653 --> 00:15:46,863
<i>to do the right thing.</i>

293
00:15:47,905 --> 00:15:50,074
<i>That's compared to 20% today.</i>

294
00:15:52,118 --> 00:15:54,495
<i>Washington itself was kind of seedy</i>
<i>in those days.</i>

295
00:15:54,579 --> 00:15:57,498
<i>There wasn't much money</i>
<i>flowing into Washington.</i>

296
00:15:58,749 --> 00:16:04,297
<i>The business community</i>
<i>was just beginning to come to Washington</i>

297
00:16:04,589 --> 00:16:06,174
<i>and set up shop.</i>

298
00:16:06,257 --> 00:16:08,050
<i>It was just... just starting.</i>

299
00:16:11,471 --> 00:16:12,889
<i>In the late 1970s,</i>

300
00:16:12,972 --> 00:16:16,642
<i>I got a job as Director of Policy Planning</i>
<i>for the Federal Trade Commission.</i>

301
00:16:19,312 --> 00:16:22,815
<i>While I was there,</i>
<i>we came out with a proposed rule</i>

302
00:16:22,899 --> 00:16:26,903
<i>that would ban advertising</i>
<i>directed at children,</i>

303
00:16:26,986 --> 00:16:30,114
<i>with regard to unhealthy, sugary products.</i>

304
00:16:30,698 --> 00:16:35,077
The Federal Trade Commission votes today
on recommendations by its staff

305
00:16:35,161 --> 00:16:39,499
that would put tight new restrictions
on TV commercials aimed at children.

306
00:16:39,874 --> 00:16:42,960
[reporter #2] <i>Advertisers are spending</i>
<i>hundreds of thousands of dollars</i>

307
00:16:43,044 --> 00:16:46,297
<i>fighting the consumer groups</i>
<i>and the FTC staff proposals.</i>

308
00:16:46,380 --> 00:16:50,218
<i>The makers of sugared cereals, candy,</i>
<i>and toys are fighting back.</i>

309
00:16:51,469 --> 00:16:54,347
You would have thought
we had declared World War Three,

310
00:16:54,430 --> 00:16:58,434
because the business community
was so upset.

311
00:16:59,685 --> 00:17:03,564
I began to see businesses
and business associations

312
00:17:03,648 --> 00:17:06,359
begin to get more and more power
in Washington,

313
00:17:06,442 --> 00:17:08,861
more and more power over...

314
00:17:09,737 --> 00:17:10,863
the legislative process.

315
00:17:12,573 --> 00:17:15,701
<i>They closed the Federal Trade Commission</i>
<i>because of that rule.</i>

316
00:17:17,745 --> 00:17:21,165
[reporter #3] <i>At the Consumer Complaints</i>
<i>Office, yesterday's mail was unopened.</i>

317
00:17:21,249 --> 00:17:23,543
<i>Hearings with food companies</i>
<i>were suspended.</i>

318
00:17:23,918 --> 00:17:27,046
<i>A laboratory machine that smokes</i>
<i>500 cigarettes a day</i>

319
00:17:27,129 --> 00:17:30,508
<i>to monitor tar and nicotine content</i>
<i>of the different brands got a break.</i>

320
00:17:30,591 --> 00:17:31,884
<i>It didn't have to smoke.</i>

321
00:17:33,719 --> 00:17:37,348
[Reich] <i>What I discovered</i>
<i>is that big corporations, Wall Street,</i>

322
00:17:37,431 --> 00:17:39,183
<i>very, very wealthy individuals,</i>

323
00:17:39,267 --> 00:17:44,063
<i>they could actually change laws</i>
<i>and regulations</i>

324
00:17:44,146 --> 00:17:46,107
<i>to favor them,</i>

325
00:17:46,190 --> 00:17:47,483
<i>and to hurt others...</i>

326
00:17:48,818 --> 00:17:51,070
<i>that that process was almost invisible.</i>

327
00:17:51,153 --> 00:17:55,825
<i>It happened inside</i>
<i>the administrative agencies,</i>

328
00:17:55,908 --> 00:17:57,410
<i>inside legislatures.</i>

329
00:17:57,827 --> 00:17:59,745
But the net effect of all of it

330
00:18:00,204 --> 00:18:03,457
was to, very subtly,
change the rules of the game.

331
00:18:07,795 --> 00:18:12,049
<i>What I had witnessed</i>
<i>had been quietly launched in 1971.</i>

332
00:18:12,133 --> 00:18:13,509
<i>The Chamber of Commerce,</i>

333
00:18:13,593 --> 00:18:16,053
<i>a powerful business lobbying group,</i>

334
00:18:16,137 --> 00:18:18,806
<i>asked a corporate lawyer</i>
<i>named Lewis Powell</i>

335
00:18:18,889 --> 00:18:20,224
<i>to write a position paper.</i>

336
00:18:21,350 --> 00:18:23,269
<i>Known as </i>The Powell Memo<i>,</i>

337
00:18:23,352 --> 00:18:27,064
<i>his paper rapidly circulated</i>
<i>among national business leaders.</i>

338
00:18:28,482 --> 00:18:31,444
<i>"The American economic system," he said,</i>

339
00:18:31,527 --> 00:18:33,279
<i>"is under broad attack."</i>

340
00:18:34,780 --> 00:18:39,035
<i>Business must learn "the lesson</i>
<i>that political power is necessary,</i>

341
00:18:39,118 --> 00:18:42,663
<i>that such power must be</i>
<i>assiduously cultivated,</i>

342
00:18:42,955 --> 00:18:44,373
<i>and that when necessary,</i>

343
00:18:44,457 --> 00:18:48,336
<i>it must be used aggressively</i>
<i>and with determination,</i>

344
00:18:48,419 --> 00:18:49,837
<i>without embarrassment,</i>

345
00:18:49,920 --> 00:18:51,881
<i>and without reluctance."</i>

346
00:18:54,300 --> 00:18:56,552
<i>His memo tuned into a manifesto</i>

347
00:18:56,636 --> 00:18:59,513
<i>for new business-oriented think tanks,</i>

348
00:18:59,597 --> 00:19:00,890
<i>lobbying groups,</i>

349
00:19:01,515 --> 00:19:02,683
<i>trade associations,</i>

350
00:19:02,767 --> 00:19:04,644
<i>and professional organizations</i>

351
00:19:05,019 --> 00:19:08,564
<i>committed to shaping the government</i>
<i>to better meet their needs.</i>

352
00:19:11,484 --> 00:19:14,111
<i>The vicious cycle was in full swing.</i>

353
00:19:25,665 --> 00:19:28,668
[general chatter]

354
00:19:31,629 --> 00:19:33,631
First, let me ask,
how do you like to be called?

355
00:19:33,714 --> 00:19:35,049
How should we call you?

356
00:19:35,132 --> 00:19:36,467
-Your Excellency.
-Yeah.

357
00:19:36,550 --> 00:19:37,510
[man] Bob.

358
00:19:37,593 --> 00:19:39,011
No, call me Bob.

359
00:19:39,095 --> 00:19:40,763
Can we go around the table?

360
00:19:40,846 --> 00:19:42,515
-Maybe...
-...introduce yourselves.

361
00:19:42,598 --> 00:19:44,016
Yes, introduce yourselves.

362
00:19:44,100 --> 00:19:46,352
My name is Woody Cozad.
I used to be a lawyer.

363
00:19:46,435 --> 00:19:47,478
Now, I'm a lobbyist.

364
00:19:47,978 --> 00:19:49,063
And,

365
00:19:49,730 --> 00:19:50,856
as one of my...

366
00:19:51,524 --> 00:19:54,026
fellow right-wing friends said to me, I...

367
00:19:54,110 --> 00:19:58,322
I'm like a doctor who specializes
in the diseases of the very rich.

368
00:19:58,656 --> 00:19:59,699
And so...

369
00:19:59,782 --> 00:20:00,700
[laughter]

370
00:20:00,783 --> 00:20:03,411
I try to represent people
who can pay my bills.

371
00:20:03,494 --> 00:20:07,039
So I'm one of those evil guys
manipulating the rules and changing them.

372
00:20:07,123 --> 00:20:09,166
What are you…? Don't be defensive.

373
00:20:09,250 --> 00:20:10,876
[Cozard] I'm not defensive!

374
00:20:10,960 --> 00:20:12,420
I'm very proud of my job.

375
00:20:12,503 --> 00:20:15,005
You're doing a job
and a job has to be done.

376
00:20:15,089 --> 00:20:18,342
I'm Crosby Kemper, the Director
of the Kansas City Public Library.

377
00:20:18,426 --> 00:20:23,013
And I was a Republican candidate
for the state legislature in 1980.

378
00:20:23,097 --> 00:20:26,434
And I referred to myself then as I refer
to myself now, as a Libertarian.

379
00:20:27,184 --> 00:20:30,146
I have been a very moderate Republican

380
00:20:30,229 --> 00:20:32,815
and, actually,
have helped a few Democrats.

381
00:20:32,898 --> 00:20:33,858
So...

382
00:20:34,483 --> 00:20:36,026
I was happy that Crosby invited me.

383
00:20:36,110 --> 00:20:36,944
Thank you.

384
00:20:37,528 --> 00:20:39,989
You know what I would like to do?
If you don't mind...

385
00:20:40,072 --> 00:20:41,073
Please.

386
00:20:42,116 --> 00:20:46,787
I would like to put party labels aside
and not talk Democrats and Republicans,

387
00:20:46,871 --> 00:20:48,456
just for a little while.

388
00:20:49,165 --> 00:20:51,542
Because I really want to talk about

389
00:20:51,625 --> 00:20:52,918
how you view...

390
00:20:53,836 --> 00:20:55,713
politics, the economy, your values.

391
00:20:55,796 --> 00:20:57,381
You try... You...

392
00:20:57,840 --> 00:21:02,094
You want to dismiss the argument
about government versus the market.

393
00:21:02,178 --> 00:21:03,971
I'm just talking about government.

394
00:21:04,054 --> 00:21:06,974
And people who operate that government

395
00:21:07,057 --> 00:21:09,518
will do so in their own self-interests.

396
00:21:11,479 --> 00:21:16,442
And that's what the constitution
was designed to limit.

397
00:21:16,525 --> 00:21:19,236
And so the government should be limited.

398
00:21:19,320 --> 00:21:21,113
I was a regulator.

399
00:21:21,614 --> 00:21:23,657
I was at the Federal Trade Commission.

400
00:21:23,741 --> 00:21:25,493
We would come up with simple rules.

401
00:21:25,576 --> 00:21:27,286
And then the lobbyists...

402
00:21:27,369 --> 00:21:28,704
-[man] Right.
-...would attack.

403
00:21:28,788 --> 00:21:29,789
They would say,

404
00:21:29,872 --> 00:21:31,540
"You have got to give this little...

405
00:21:31,624 --> 00:21:34,502
Make this exception
and this exception and this exception."

406
00:21:34,585 --> 00:21:35,711
And then...

407
00:21:36,837 --> 00:21:39,590
Congress would start calling
and they'd say,

408
00:21:39,673 --> 00:21:42,468
"Our business constituents
want this exception."

409
00:21:42,551 --> 00:21:44,470
It's not either market or government.

410
00:21:44,553 --> 00:21:46,972
It is power that is misused.

411
00:21:47,056 --> 00:21:48,516
Let's talk about power.

412
00:21:48,599 --> 00:21:53,229
Let's talk about my two clients
who started a company 20 years ago

413
00:21:53,813 --> 00:21:55,105
and are now billionaires.

414
00:21:55,189 --> 00:21:56,774
They employ 9,000 people,

415
00:21:56,857 --> 00:21:59,985
they pay hundreds of millions
of dollars in taxes,

416
00:22:00,569 --> 00:22:02,154
they pay high wages -

417
00:22:02,238 --> 00:22:05,991
it's a high-tech company,
with value added, generous benefits.

418
00:22:06,075 --> 00:22:07,701
And yet they're held up

419
00:22:07,785 --> 00:22:11,163
to scorn, hatred, ridicule and contempt

420
00:22:11,247 --> 00:22:13,916
because they've added
to income inequality,

421
00:22:13,999 --> 00:22:16,627
added to the concentration of wealth,

422
00:22:16,710 --> 00:22:18,420
added to disparity...

423
00:22:18,504 --> 00:22:21,340
-[Reich] I...
-Why are they scapegoats? They're doing...

424
00:22:21,423 --> 00:22:25,052
They are enacting the American dream.
One of them is an immigrant.

425
00:22:25,135 --> 00:22:28,222
Let's agree that
there should not be any scapegoats,

426
00:22:28,305 --> 00:22:29,682
and there's nobody evil here.

427
00:22:29,765 --> 00:22:31,475
Let's also agree that there's a problem.

428
00:22:32,142 --> 00:22:33,936
I mean, I actually really like you.

429
00:22:34,019 --> 00:22:35,563
And I didn't expect to.

430
00:22:35,646 --> 00:22:38,899
But you have vilified everything
I've worked for all my life.

431
00:22:39,525 --> 00:22:43,112
I've had four very successful
small businesses.

432
00:22:43,195 --> 00:22:46,115
I grew up poor in Springfield, Missouri.

433
00:22:47,116 --> 00:22:49,868
Student loans, worked my ass off,

434
00:22:50,786 --> 00:22:51,620
employed...

435
00:22:51,704 --> 00:22:53,539
I probably created 200 jobs.

436
00:22:54,248 --> 00:22:56,959
OK, it's not a lot.
I'm not the Koch brothers.

437
00:22:57,042 --> 00:22:58,586
But I worked my ass off.

438
00:22:59,044 --> 00:23:02,631
But you made me feel badly
about what I've done for America.

439
00:23:08,429 --> 00:23:10,681
My theory is work. Take care of yourself.

440
00:23:10,764 --> 00:23:14,977
Accept responsibility for yourself,
regardless of what life throws at you.

441
00:23:21,233 --> 00:23:23,652
Yes, we've made it.
There's no question we've made it.

442
00:23:27,573 --> 00:23:29,366
<i>My husband and I</i>
<i>pinch each other every day</i>

443
00:23:29,450 --> 00:23:31,827
<i>that we get to live</i>
<i>in this lovely community.</i>

444
00:23:31,910 --> 00:23:33,954
<i>We're able to put his kids</i>
<i>through college.</i>

445
00:23:34,747 --> 00:23:38,042
But I think the opportunity

446
00:23:38,667 --> 00:23:40,669
for employment

447
00:23:41,211 --> 00:23:42,671
has become very complicated.

448
00:23:44,089 --> 00:23:48,385
<i>Today, it's hard for people</i>
<i>to really make ends meet.</i>

449
00:23:53,015 --> 00:23:56,435
<i>I don't feel like being 20 today</i>

450
00:23:56,518 --> 00:24:00,230
<i>is gonna be as easy as it was</i>
<i>when I was 20.</i>

451
00:24:03,442 --> 00:24:05,152
<i>It's just a different time.</i>

452
00:24:05,235 --> 00:24:07,196
<i>It's a very, very different time.</i>

453
00:24:14,036 --> 00:24:18,082
[Guadalupe] <i>I've been working</i>
<i>at McDonald's for four years.</i>

454
00:24:20,334 --> 00:24:22,878
<i>I work at the drive-through window.</i>

455
00:24:22,961 --> 00:24:24,713
<i>I get paid $12.50...</i>

456
00:24:24,797 --> 00:24:26,340
<i>$12.55 per hour.</i>

457
00:24:27,758 --> 00:24:32,346
<i>I make about $1,200 a month.</i>

458
00:24:33,138 --> 00:24:35,432
<i>$900 goes straight to rent.</i>

459
00:24:36,308 --> 00:24:39,603
<i>And I have to pay for gas</i>

460
00:24:40,229 --> 00:24:42,690
<i>and then my phone bill.</i>

461
00:24:42,773 --> 00:24:44,358
<i>I end up with nothing.</i>

462
00:24:45,025 --> 00:24:47,486
<i>We barely, barely make it.</i>

463
00:24:49,279 --> 00:24:50,739
[speaking Spanish]

464
00:24:51,657 --> 00:24:54,451
[Guadalupe]
<i>Those big corporations can pay us more.</i>

465
00:24:54,535 --> 00:24:55,703
They have the money.

466
00:24:56,704 --> 00:24:58,956
Me, as a cashier at my job,

467
00:24:59,039 --> 00:25:01,667
I know how much money goes in there, OK?

468
00:25:02,418 --> 00:25:05,254
And that is only in a few hours.

469
00:25:05,796 --> 00:25:07,464
They're open 24/7.

470
00:25:09,174 --> 00:25:12,970
I sometimes have to go for the payday loan

471
00:25:13,053 --> 00:25:15,848
and get a loan on my paycheck,

472
00:25:15,931 --> 00:25:19,059
in order to make it on time
and not get any late fees,

473
00:25:19,143 --> 00:25:21,520
and try to make ends meet.

474
00:25:25,983 --> 00:25:27,151
[Reich] <i>Nobody…</i>

475
00:25:27,234 --> 00:25:31,113
Nobody should be working full-time
and not making it.

476
00:25:33,574 --> 00:25:37,411
Nobody in our society, the richest...

477
00:25:39,538 --> 00:25:43,000
country, the richest nation
in the history of the world...

478
00:25:45,294 --> 00:25:46,837
should feel as...

479
00:25:47,504 --> 00:25:52,176
frightened and anxious and as insecure
as so many people do today.

480
00:26:12,404 --> 00:26:16,074
<i>The reality is that our system</i>
<i>can reflect our values.</i>

481
00:26:18,660 --> 00:26:20,829
<i>Capitalism is what we make of it.</i>

482
00:26:23,540 --> 00:26:26,126
<i>Either the rules</i>
<i>are going to expand opportunity</i>

483
00:26:26,210 --> 00:26:28,587
<i>and widen the circle of prosperity,</i>

484
00:26:28,670 --> 00:26:30,506
<i>or they're going to narrow opportunity.</i>

485
00:26:36,637 --> 00:26:39,515
[MC]
<i>The Secretary of Labor, Robert Reich.</i>

486
00:26:40,474 --> 00:26:43,685
<i>The Secretary of the Treasury,</i>
<i>Robert Rubin.</i>

487
00:26:43,769 --> 00:26:46,480
<i>And the President of the United States.</i>

488
00:26:46,563 --> 00:26:49,107
[applause]

489
00:26:51,276 --> 00:26:56,031
I don't know whether Bill Clinton
organized his economic team

490
00:26:56,114 --> 00:26:59,117
so that people like me would

491
00:26:59,201 --> 00:27:00,869
have a good chance to make our case,

492
00:27:00,953 --> 00:27:02,830
but we'd lose a lot of our...

493
00:27:02,913 --> 00:27:04,122
a lot of the fights.

494
00:27:05,207 --> 00:27:08,544
<i>What I do know is that</i>
<i>it was a tough slog.</i>

495
00:27:08,627 --> 00:27:10,629
[Clinton] ...to make economic policy...

496
00:27:10,712 --> 00:27:13,590
I was fighting very hard for maintaining

497
00:27:13,674 --> 00:27:15,884
the original goals of that campaign.

498
00:27:17,636 --> 00:27:20,639
<i>We wanted to do away</i>
<i>with some of the tax subsidies</i>

499
00:27:20,722 --> 00:27:23,183
<i>the federal government</i>
<i>was giving corporations,</i>

500
00:27:23,267 --> 00:27:25,602
<i>that left average people</i>
<i>picking up the tab.</i>

501
00:27:25,686 --> 00:27:27,479
[applause]

502
00:27:27,563 --> 00:27:31,900
<i>The president had pledged</i>
<i>to end the tax break for CEO pay.</i>

503
00:27:33,861 --> 00:27:38,156
The average CEO
at a major American corporation,

504
00:27:38,532 --> 00:27:40,868
according to a recent Senate hearing,

505
00:27:41,410 --> 00:27:45,205
is paid about 100 times as much
as the average worker.

506
00:27:45,831 --> 00:27:48,083
And our government today
rewards that excess

507
00:27:48,166 --> 00:27:51,253
with a tax break for executive pay,
no matter how high it is.

508
00:27:51,628 --> 00:27:52,713
That's wrong.

509
00:27:52,796 --> 00:27:56,341
If companies want to overpay executives
and underinvest in their future,

510
00:27:56,425 --> 00:27:57,676
that's their business.

511
00:27:57,759 --> 00:28:00,596
But they shouldn't get special treatment
from Uncle Sam.

512
00:28:00,679 --> 00:28:02,556
[applause]

513
00:28:04,474 --> 00:28:08,061
[Reich] <i>There were voices,</i>
<i>particularly in the Treasury,</i>

514
00:28:08,145 --> 00:28:10,439
<i>who wanted a very different rule.</i>

515
00:28:12,024 --> 00:28:15,694
<i>Bob Rubin had been the CEO</i>
<i>of a big Wall Street bank,</i>

516
00:28:15,777 --> 00:28:18,280
<i>and then became</i>
<i>the Secretary of the Treasury.</i>

517
00:28:18,947 --> 00:28:21,033
He viewed the economy

518
00:28:21,116 --> 00:28:24,536
and viewed America
through the eyes of Wall Street.

519
00:28:25,871 --> 00:28:27,664
<i>And I remember the meeting with Rubin.</i>

520
00:28:27,748 --> 00:28:29,750
<i>He said, "Well, why don't we make it that</i>

521
00:28:29,833 --> 00:28:33,295
<i>you can't deduct CEO pay</i>
<i>in excess of $1 million,</i>

522
00:28:33,378 --> 00:28:36,465
<i>unless it's related</i>
<i>to corporate performance?"</i>

523
00:28:37,466 --> 00:28:38,884
<i>I said, "Wait a minute. Wait. Wait.</i>

524
00:28:38,967 --> 00:28:41,094
This has nothing to do
with corporate performance.

525
00:28:41,178 --> 00:28:45,182
It's to do with excessive CEO pay
relative to the pay of average people.

526
00:28:45,265 --> 00:28:49,144
We're not talking corporate performance.
We're talking about widening inequality."

527
00:28:52,606 --> 00:28:53,982
<i>Well, I lost that one.</i>

528
00:28:54,358 --> 00:28:56,026
<i>And because of this tax loophole,</i>

529
00:28:56,109 --> 00:28:59,988
<i>CEO pay skyrocketed</i>
<i>in the form of stock bonuses.</i>

530
00:29:01,990 --> 00:29:03,533
<i>And this subsidy for executive pay</i>

531
00:29:03,617 --> 00:29:07,537
<i>was just one example</i>
<i>of thousands of subsidies and tax breaks</i>

532
00:29:07,621 --> 00:29:09,456
<i>that go to corporations.</i>

533
00:29:12,417 --> 00:29:16,296
<i>The top five oil companies</i>
<i>receive a combined $4 billion</i>

534
00:29:16,380 --> 00:29:17,547
<i>in tax breaks each year.</i>

535
00:29:22,511 --> 00:29:24,972
<i>Google receives $632 million</i>

536
00:29:25,055 --> 00:29:26,598
<i>in government subsidies</i>

537
00:29:26,682 --> 00:29:28,100
<i>to build data centers.</i>

538
00:29:32,145 --> 00:29:33,021
<i>And the United States</i>

539
00:29:33,105 --> 00:29:34,231
<i>Department of Agriculture</i>

540
00:29:34,314 --> 00:29:36,733
<i>spends $20 billion every year</i>

541
00:29:36,817 --> 00:29:38,777
<i>on subsidies that go mostly</i>

542
00:29:38,860 --> 00:29:40,195
<i>to the largest producers.</i>

543
00:29:45,158 --> 00:29:47,369
<i>These subsidies are costing taxpayers</i>

544
00:29:47,452 --> 00:29:50,580
<i>tens of billions of dollars every year.</i>

545
00:29:50,664 --> 00:29:53,083
<i>Some estimates put it at over 100 billion.</i>

546
00:29:54,626 --> 00:29:58,338
<i>That's more than the cost to fund</i>
<i>the entire Department of Education.</i>

547
00:30:01,466 --> 00:30:05,137
We have a huge system now
of corporate welfare -

548
00:30:05,554 --> 00:30:07,723
aid for dependent corporations,

549
00:30:07,806 --> 00:30:11,893
subsidies and tax breaks that have
no economic justification at all,

550
00:30:11,977 --> 00:30:14,479
that are there
because individual corporations

551
00:30:14,563 --> 00:30:17,357
or specific industries
have lobbied to get them.

552
00:30:18,108 --> 00:30:19,860
It's in the tax code.

553
00:30:19,943 --> 00:30:22,029
It's in appropriation bills.

554
00:30:22,571 --> 00:30:24,323
It's in our trade laws.

555
00:30:25,115 --> 00:30:28,368
Wherever you look,
you find corporate welfare.

556
00:30:31,705 --> 00:30:34,124
<i>I began to feel, in myself, some anger...</i>

557
00:30:35,208 --> 00:30:39,004
<i>towards people I knew</i>
<i>in the administration</i>

558
00:30:39,087 --> 00:30:40,380
<i>with a lot of power.</i>

559
00:30:41,131 --> 00:30:43,800
Not anger at them, personally,
because they were nice people.

560
00:30:43,884 --> 00:30:44,718
I enjoyed them.

561
00:30:44,801 --> 00:30:47,095
<i>But anger at not only</i>
<i>what they represented,</i>

562
00:30:47,179 --> 00:30:49,097
<i>but the narrowness of their view.</i>

563
00:30:50,724 --> 00:30:53,852
<i>It was as if Washington was an island</i>

564
00:30:53,935 --> 00:30:57,522
<i>that was separate</i>
<i>from the rest of the country.</i>

565
00:30:58,106 --> 00:31:01,151
<i>The voices of average citizens</i>

566
00:31:01,693 --> 00:31:02,611
<i>had disappeared -</i>

567
00:31:02,694 --> 00:31:03,820
<i>all but disappeared.</i>

568
00:31:06,531 --> 00:31:09,159
Another member of the
Clinton administration announced today

569
00:31:09,242 --> 00:31:11,203
that he's dropping out
of the game entirely.

570
00:31:11,620 --> 00:31:13,497
Labor Secretary Robert Reich,

571
00:31:13,580 --> 00:31:16,708
who's been a central player
on the President's domestic policy team,

572
00:31:16,792 --> 00:31:20,212
is returning to Massachusetts
to spend more time with his family.

573
00:31:27,302 --> 00:31:32,182
My friends, we are on the way
to becoming a two-tiered society...

574
00:31:33,183 --> 00:31:34,976
composed of a few winners...

575
00:31:35,894 --> 00:31:38,647
and a larger group of Americans
left behind,

576
00:31:39,147 --> 00:31:42,109
whose anger and whose disillusionment

577
00:31:42,192 --> 00:31:44,569
is easily manipulated.

578
00:31:46,029 --> 00:31:47,406
Once unbottled,

579
00:31:48,281 --> 00:31:49,699
mass resentment

580
00:31:50,117 --> 00:31:53,537
can poison the very fabric of society,

581
00:31:53,620 --> 00:31:55,789
the moral integrity of a society,

582
00:31:56,248 --> 00:31:58,125
replacing ambition with envy,

583
00:31:58,208 --> 00:32:00,085
replacing tolerance with hate.

584
00:32:00,752 --> 00:32:03,255
Today, the targets of that rage

585
00:32:03,338 --> 00:32:04,673
are immigrants,

586
00:32:05,340 --> 00:32:06,716
and welfare mothers,

587
00:32:07,426 --> 00:32:08,969
and government officials,

588
00:32:09,636 --> 00:32:10,720
and gays,

589
00:32:11,263 --> 00:32:14,141
and an ill-defined counterculture.

590
00:32:15,767 --> 00:32:19,146
But as the middle class
continues to erode,

591
00:32:20,021 --> 00:32:23,233
who will be the targets tomorrow?

592
00:32:43,920 --> 00:32:48,467
[Reich] <i>You can see the cumulative effect</i>
<i>of all of this over time.</i>

593
00:32:51,428 --> 00:32:53,847
<i>Wealth creating political power,</i>

594
00:32:54,514 --> 00:32:58,143
<i>creating changes in the rules</i>
<i>that enhance wealth.</i>

595
00:33:00,729 --> 00:33:04,149
It's not sustainable.
It's getting worse and worse and worse.

596
00:33:08,403 --> 00:33:11,698
[Brian Williams] <i>Big trouble for millions</i>
<i>of American homeowners,</i>

597
00:33:11,781 --> 00:33:14,159
<i>as foreclosures across the country</i>

598
00:33:14,242 --> 00:33:16,953
<i>are up a staggering 87%.</i>

599
00:33:17,579 --> 00:33:20,707
The number of Americans
either behind on their mortgage payments

600
00:33:20,790 --> 00:33:21,625
or in foreclosure

601
00:33:22,125 --> 00:33:24,586
rose to record levels
in the third quarter.

602
00:33:24,961 --> 00:33:26,838
Those mortgages made to borrowers

603
00:33:26,922 --> 00:33:28,340
with poor credit histories

604
00:33:28,423 --> 00:33:30,509
are called sub-prime loans.

605
00:33:31,051 --> 00:33:35,013
And the explosive growth in this kind of
lending in the past few years

606
00:33:35,096 --> 00:33:37,682
is now having a devastating impact.

607
00:33:38,475 --> 00:33:40,560
We are briefly interrupting
regular programming

608
00:33:40,644 --> 00:33:43,688
with the latest on a wild day today
on Wall Street

609
00:33:43,772 --> 00:33:45,982
in which the stock market
officially crashed.

610
00:33:46,816 --> 00:33:50,362
[newscaster] <i>Now, three of the top five</i>
<i>Wall Street institutions are gone,</i>

611
00:33:51,071 --> 00:33:54,366
<i>leaving many to wonder</i>
<i>whether Americans can trust the system</i>

612
00:33:54,449 --> 00:33:56,117
<i>to keep their money safe.</i>

613
00:33:58,119 --> 00:34:00,247
So, what happened in the 2000s?

614
00:34:00,330 --> 00:34:02,040
Well, Wall Street went amok.

615
00:34:02,123 --> 00:34:03,875
I mean, completely crazy.

616
00:34:03,959 --> 00:34:07,254
<i>They're gambling with people's deposits.</i>

617
00:34:07,337 --> 00:34:09,714
<i>They're...</i>
<i>They're gambling with the entire economy.</i>

618
00:34:10,840 --> 00:34:13,593
These are not aberrations.
This is not an accident.

619
00:34:19,474 --> 00:34:21,351
<i>Since the Reagan administration,</i>

620
00:34:21,434 --> 00:34:25,564
<i>there's been a systematic changing</i>
<i>of the rules of our financial system -</i>

621
00:34:26,189 --> 00:34:28,984
<i>always billed as deregulation</i>

622
00:34:29,067 --> 00:34:31,695
<i>that would get government</i>
<i>out of our free market.</i>

623
00:34:32,779 --> 00:34:36,283
Government, with its high taxes,
excessive spending,

624
00:34:36,366 --> 00:34:37,659
and over-regulation,

625
00:34:38,201 --> 00:34:40,787
has thrown a wrench in the works
of our free markets.

626
00:34:44,332 --> 00:34:45,542
[Reich] <i>Then in 1998,</i>

627
00:34:45,917 --> 00:34:49,421
<i>Wall Street devised</i>
<i>new complex financial instruments</i>

628
00:34:49,504 --> 00:34:51,172
<i>to maximize their profits,</i>

629
00:34:51,256 --> 00:34:52,841
<i>known as "derivatives".</i>

630
00:34:54,134 --> 00:34:56,928
<i>Despite warnings, these went unregulated.</i>

631
00:34:58,013 --> 00:34:59,973
[interviewer]
What are you trying to protect?

632
00:35:00,348 --> 00:35:03,476
We're trying to protect
the money of the American public,

633
00:35:03,935 --> 00:35:06,104
which is at risk in these markets.

634
00:35:09,065 --> 00:35:11,526
[Reich] <i>And then, in 1999,</i>

635
00:35:11,610 --> 00:35:14,404
<i>Clinton did away</i>
<i>with the Glass-Steagall Act.</i>

636
00:35:16,740 --> 00:35:19,242
We're here today to repeal Glass-Steagall

637
00:35:19,326 --> 00:35:22,537
because we've learned
that government is not the answer.

638
00:35:23,330 --> 00:35:27,042
We have learned that freedom
and competition are the answers.

639
00:35:28,960 --> 00:35:31,921
[Reich] <i>The Glass-Steagall Act</i>
<i>was a 1930s law</i>

640
00:35:32,005 --> 00:35:34,382
<i>designed to protect people's savings</i>

641
00:35:34,466 --> 00:35:36,968
<i>from being used by</i>
<i>Wall Street speculators.</i>

642
00:35:37,052 --> 00:35:39,512
<i>But now, with no laws in place</i>

643
00:35:39,596 --> 00:35:43,558
<i>to keep risky investment banks</i>
<i>from merging with commercial banks,</i>

644
00:35:43,642 --> 00:35:45,560
<i>or controlled derivatives,</i>

645
00:35:45,644 --> 00:35:49,397
<i>we ushered in too-big-to-fail mega banks,</i>

646
00:35:49,481 --> 00:35:51,650
<i>that led to the stock market crash.</i>

647
00:35:51,733 --> 00:35:53,234
[camera shutters clicking]

648
00:35:53,318 --> 00:35:55,862
There's this fiction that
somehow you have

649
00:35:55,945 --> 00:35:57,822
regulation or deregulation.

650
00:35:57,906 --> 00:35:59,699
You don't have regulation
or deregulation.

651
00:35:59,783 --> 00:36:01,660
The question is,
what regulation do you have?

652
00:36:01,743 --> 00:36:04,913
You allowed commercial and investment
banks to get together

653
00:36:04,996 --> 00:36:07,999
and then what happened
is you have a new kind of regulation.

654
00:36:08,083 --> 00:36:10,001
It's called "bailouts".

655
00:36:10,085 --> 00:36:12,253
Good evening and even congratulations.

656
00:36:12,337 --> 00:36:15,632
You are now the proud owner
of a massive insurance company.

657
00:36:15,715 --> 00:36:18,343
American taxpayers woke up this morning

658
00:36:18,426 --> 00:36:22,472
to learn their money makes up
most of a bailout package

659
00:36:22,555 --> 00:36:24,808
the Federal Reserve slammed together

660
00:36:24,891 --> 00:36:29,062
to save a huge insurance conglomerate
called "AIG".

661
00:36:29,145 --> 00:36:31,481
[newscaster #2]
<i>The rescue of Bear Stearns, Fannie Mae,</i>

662
00:36:31,564 --> 00:36:33,316
<i>Freddie Mac and AIG</i>

663
00:36:33,400 --> 00:36:36,945
<i>puts an extra $314 billion</i>
<i>of taxpayer money at risk.</i>

664
00:36:37,028 --> 00:36:40,532
[Savannah Guthrie] The administration and
Congress are hammering out the details

665
00:36:40,615 --> 00:36:44,285
for what would be the largest
financial bailout in US history.

666
00:36:44,369 --> 00:36:47,288
This is a big package,
because it was a big problem.

667
00:36:50,208 --> 00:36:52,669
We're not getting rid of government.
That's the point.

668
00:36:52,752 --> 00:36:54,462
Government will still be involved.

669
00:36:54,546 --> 00:36:57,674
The question is,
how is government going to be involved?

670
00:36:57,757 --> 00:36:59,217
Is government going to be involved

671
00:36:59,300 --> 00:37:02,887
in terms of keeping banks
relatively small and tame,

672
00:37:02,971 --> 00:37:06,641
or is government going to be involved
in dealing with the consequences,

673
00:37:06,725 --> 00:37:10,061
from homeowners and everybody else
sweeping up the mess?

674
00:37:10,145 --> 00:37:12,605
In other words,
it's not government versus no government.

675
00:37:12,689 --> 00:37:13,606
It's...

676
00:37:13,898 --> 00:37:15,650
what are the government rules going to be?

677
00:37:28,955 --> 00:37:31,082
[Victoria Dzorka] <i>I received my diagnosis</i>

678
00:37:31,166 --> 00:37:33,543
<i>in January of this year.</i>

679
00:37:34,794 --> 00:37:39,674
After receiving an infection abroad,
I came home and was treated for that.

680
00:37:39,758 --> 00:37:42,969
And while in the hospital,
they discovered that I had cancer.

681
00:37:48,767 --> 00:37:51,728
<i>I have a couple of different medications</i>
<i>for nausea.</i>

682
00:37:51,811 --> 00:37:55,815
<i>There are two specific ones that I take</i>
<i>on days two and three after chemo.</i>

683
00:37:55,899 --> 00:38:00,737
I get a steroid when I'm in the hospital
to get me through the treatment,

684
00:38:01,362 --> 00:38:02,447
an antibiotic,

685
00:38:03,281 --> 00:38:06,659
and another that helps me sleep,

686
00:38:06,743 --> 00:38:09,496
because I get kind of a weird vertigo

687
00:38:10,246 --> 00:38:12,832
during a certain point
of my treatment cycle.

688
00:38:17,086 --> 00:38:19,422
<i>Even with the insurance provider</i>
<i>that I have,</i>

689
00:38:19,506 --> 00:38:23,885
<i>I was informed that they no longer cover</i>
<i>chemo drugs fully.</i>

690
00:38:25,470 --> 00:38:28,264
<i>And so we were told</i>
<i>by a medical social worker</i>

691
00:38:28,348 --> 00:38:32,352
<i>that we could potentially</i>
<i>receive a bill for thousands of dollars.</i>

692
00:38:36,064 --> 00:38:39,609
With the four drugs
that I take for chemotherapy,

693
00:38:39,692 --> 00:38:42,445
the total comes out
to about $3,000 a month,

694
00:38:43,112 --> 00:38:43,988
per treatment.

695
00:38:45,949 --> 00:38:49,536
So, for me,
that's about three months of income...

696
00:38:49,619 --> 00:38:50,995
[chuckles]

697
00:38:51,079 --> 00:38:52,288
just for...

698
00:38:52,372 --> 00:38:53,790
Just for one round of treatment.

699
00:38:56,543 --> 00:39:00,547
What is the alternative to receiving
your chemotherapy drugs?

700
00:39:00,630 --> 00:39:01,506
There isn't one.

701
00:39:01,589 --> 00:39:04,634
So whatever the cost is,
you have to pay it.

702
00:39:09,222 --> 00:39:11,349
You and I
and everybody else in this country,

703
00:39:11,432 --> 00:39:13,476
pays more for pharmaceuticals...

704
00:39:14,519 --> 00:39:17,438
than any citizens
of any advanced nation.

705
00:39:18,314 --> 00:39:20,066
Why is it that we pay so much?

706
00:39:20,441 --> 00:39:25,029
It has to do with the way in which
pharmaceutical companies

707
00:39:25,113 --> 00:39:29,742
have got laws and rules
that protect them.

708
00:39:30,326 --> 00:39:33,037
And that gives them huge market power.

709
00:39:33,746 --> 00:39:37,709
And it also gives them
huge political power.

710
00:39:38,543 --> 00:39:41,921
And that political power
is being exercised in all kinds of ways

711
00:39:42,005 --> 00:39:47,135
to tilt the market in their direction.

712
00:39:49,762 --> 00:39:51,556
<i>In June of 2003,</i>

713
00:39:51,639 --> 00:39:55,643
<i>the Medicare Modernization Act</i>
<i>came up for vote in the House.</i>

714
00:39:56,102 --> 00:39:57,103
This will be

715
00:39:57,186 --> 00:39:58,813
a 15-minute vote.

716
00:40:01,316 --> 00:40:03,693
[Reich]
<i>It was a bill that was ostensibly intended</i>

717
00:40:03,776 --> 00:40:05,904
<i>to help seniors pay</i>
<i>for prescription drugs.</i>

718
00:40:06,905 --> 00:40:11,284
<i>But it would also bar the government</i>
<i>from interfering with negotiations</i>

719
00:40:11,367 --> 00:40:13,661
<i>between manufacturers and pharmacies</i>

720
00:40:13,745 --> 00:40:16,247
<i>and prescription drug plan sponsors.</i>

721
00:40:18,166 --> 00:40:19,334
<i>In other words,</i>

722
00:40:19,417 --> 00:40:23,463
<i>it would prevent the government,</i>
<i>with its huge purchasing power,</i>

723
00:40:23,963 --> 00:40:26,925
<i>from negotiating cheaper prices for drugs.</i>

724
00:40:28,760 --> 00:40:30,303
<i>So, as new drugs hit the market,</i>

725
00:40:31,137 --> 00:40:32,972
<i>patients would have no choice</i>

726
00:40:33,056 --> 00:40:36,184
<i>but to pay the costs</i>
<i>set by the drug companies.</i>

727
00:40:39,103 --> 00:40:41,230
<i>The bill was over a thousand pages.</i>

728
00:40:41,314 --> 00:40:45,026
<i>And it was rushed to a vote in the House</i>
<i>at 3:00 a.m. the next morning.</i>

729
00:40:46,694 --> 00:40:48,821
We had leaders going around

730
00:40:48,905 --> 00:40:52,617
and gathering around individuals
and trying to twist their arms

731
00:40:52,700 --> 00:40:54,035
to get them to change their vote.

732
00:40:55,161 --> 00:40:57,664
[Burton] <i>I think a lot of the shenanigans</i>
<i>that were going on,</i>

733
00:40:57,747 --> 00:41:00,333
<i>they didn't want on national TV</i>
<i>in prime time.</i>

734
00:41:01,501 --> 00:41:04,712
On this vote, the ayes are 220,
and the nays are 215.

735
00:41:04,796 --> 00:41:07,090
-The conference report is agreed to.
-[loud cheering]

736
00:41:07,173 --> 00:41:10,510
Without objection, the motion
to reconsider is laid upon the table.

737
00:41:11,719 --> 00:41:13,304
[Reich] <i>This is a piece of legislation</i>

738
00:41:13,388 --> 00:41:16,391
<i>that's hailed as a move toward</i>
<i>a free market.</i>

739
00:41:17,892 --> 00:41:20,645
<i>But it's actually a government regulation</i>

740
00:41:21,104 --> 00:41:23,773
<i>that benefits only a few at the top.</i>

741
00:41:28,069 --> 00:41:30,613
<i>Similar manipulations of the rules</i>
<i>of our economy</i>

742
00:41:30,697 --> 00:41:33,449
<i>are happening across our major industries.</i>

743
00:41:34,617 --> 00:41:36,661
<i>Americans pay more for Internet service</i>

744
00:41:36,744 --> 00:41:39,747
<i>than citizens of any other</i>
<i>industrialized nation,</i>

745
00:41:40,331 --> 00:41:42,458
<i>and have some of the slowest speeds.</i>

746
00:41:43,418 --> 00:41:46,337
<i>Because cable companies</i>
<i>have enough political power</i>

747
00:41:46,421 --> 00:41:48,172
<i>to stifle competition.</i>

748
00:41:50,633 --> 00:41:52,635
<i>We're paying more for airline tickets,</i>

749
00:41:53,261 --> 00:41:57,015
<i>because airlines have merged</i>
<i>into just four major carriers</i>

750
00:41:57,098 --> 00:41:59,392
<i>that barely have to compete</i>
<i>with each other.</i>

751
00:42:00,685 --> 00:42:04,814
<i>We pay more for health insurance</i>
<i>as health insurers consolidate.</i>

752
00:42:06,482 --> 00:42:10,403
So, in every way, you see,
they're using their political power,

753
00:42:10,486 --> 00:42:13,614
and that means you and I
and every other American

754
00:42:14,240 --> 00:42:15,658
are paying more.

755
00:42:18,369 --> 00:42:21,164
<i>How do these industries</i>
<i>manage to get rules that benefit them?</i>

756
00:42:21,956 --> 00:42:23,082
<i>It's no mystery.</i>

757
00:42:24,542 --> 00:42:28,296
<i>Campaign contributions</i>
<i>buy access to government officials.</i>

758
00:42:28,379 --> 00:42:30,590
[sound of crowd cheering]

759
00:42:31,174 --> 00:42:36,262
<i>Well-funded public relations firms,</i>
<i>think tanks and research institutes</i>

760
00:42:36,345 --> 00:42:38,598
<i>produce reports to promote those views</i>

761
00:42:38,681 --> 00:42:41,768
<i>and sometimes even draft the laws</i>
<i>they want passed.</i>

762
00:42:44,479 --> 00:42:47,273
<i>The tunes of lawyers</i>
<i>argue on their behalf</i>

763
00:42:47,356 --> 00:42:50,610
<i>in courts and regulatory proceedings</i>
<i>in Washington.</i>

764
00:42:52,278 --> 00:42:54,322
<i>Finally, there's the revolving door.</i>

765
00:42:54,781 --> 00:42:56,324
<i>In the 1970s,</i>

766
00:42:56,407 --> 00:42:59,285
<i>about 3% of outgoing members of Congress</i>

767
00:42:59,368 --> 00:43:00,328
<i>became lobbyists.</i>

768
00:43:00,870 --> 00:43:01,788
<i>In recent years,</i>

769
00:43:01,871 --> 00:43:05,041
<i>42% of retiring representatives</i>

770
00:43:05,124 --> 00:43:07,835
<i>and half of all retiring senators</i>

771
00:43:07,919 --> 00:43:09,295
<i>have turned to lobbying.</i>

772
00:43:13,758 --> 00:43:16,385
<i>Lobbying has been going on</i>
<i>since America's founding.</i>

773
00:43:17,136 --> 00:43:20,348
<i>What has changed is the magnitude</i>
<i>of corporate lobbying</i>

774
00:43:20,431 --> 00:43:22,475
<i>versus any other interests.</i>

775
00:43:23,935 --> 00:43:25,853
<i>It's gone from a cottage industry</i>

776
00:43:25,937 --> 00:43:28,940
<i>to an influence industrial complex.</i>

777
00:43:30,316 --> 00:43:31,192
<i>Today,</i>

778
00:43:31,275 --> 00:43:33,945
<i>corporate interests</i>
<i>spend $34</i>

779
00:43:34,028 --> 00:43:37,073
<i>for every $1 dollar</i>
<i>spent by unions</i>

780
00:43:37,156 --> 00:43:39,867
<i>and all public interest</i>
<i>groups combined.</i>

781
00:43:41,619 --> 00:43:42,787
<i>In 2016,</i>

782
00:43:42,870 --> 00:43:48,000
<i>they spent a total of</i>
<i>$3.15 billion on lobbying.</i>

783
00:43:49,293 --> 00:43:52,380
<i>That's the equivalent</i>
<i>of $5.9 million</i>

784
00:43:52,463 --> 00:43:54,006
<i>per member of Congress.</i>

785
00:43:57,552 --> 00:43:59,846
[engine whirring]

786
00:44:01,472 --> 00:44:02,932
[Darvin] <i>I'm kind of independent.</i>

787
00:44:03,933 --> 00:44:06,519
At times, I see both parties...

788
00:44:07,603 --> 00:44:10,022
doing some stuff that I don't think...

789
00:44:10,690 --> 00:44:12,733
that's what they were elected to do.

790
00:44:14,569 --> 00:44:18,072
They don't care about
the promises they made to the people.

791
00:44:18,781 --> 00:44:21,868
They care about the promises they made
to their backers.

792
00:44:22,243 --> 00:44:23,452
They give them the money.

793
00:44:24,203 --> 00:44:25,329
Most of us out here...

794
00:44:25,413 --> 00:44:28,833
I don't contribute much
to the political deals, you know?

795
00:44:28,916 --> 00:44:29,750
Because...

796
00:44:30,793 --> 00:44:31,836
I'll vote for you.

797
00:44:31,919 --> 00:44:34,005
If I vote for you,
that's all I should have to do.

798
00:44:34,088 --> 00:44:37,758
I don't have to buy your loyalty to me.

799
00:44:39,844 --> 00:44:41,429
<i>Their money is their voice.</i>

800
00:44:43,264 --> 00:44:45,850
Why, excuse me, but where did I miss that?

801
00:44:45,933 --> 00:44:48,102
Money is used to purchase something,

802
00:44:48,728 --> 00:44:49,937
not as a voice.

803
00:44:50,646 --> 00:44:52,398
You know?
So what are they purchasing?

804
00:44:52,481 --> 00:44:55,276
They are purchasing
the influence of politicians.

805
00:44:55,359 --> 00:44:58,821
[car alert beeping]

806
00:45:01,824 --> 00:45:04,952
[Dave Brat] <i>Do you feel that</i>
<i>you are truly represented in Washington?</i>

807
00:45:05,036 --> 00:45:08,080
<i>Do you feel that this country</i>
<i>is headed in the right direction?</i>

808
00:45:08,164 --> 00:45:09,040
<i>No one does.</i>

809
00:45:09,624 --> 00:45:11,459
<i>That's why I'm running for Congress.</i>

810
00:45:11,542 --> 00:45:12,877
My name is Dave Brat

811
00:45:12,960 --> 00:45:15,463
and I'm a lifelong Republican
and conservative.

812
00:45:15,546 --> 00:45:19,050
<i>I'm ready to take economics and ethics</i>
<i>to Washington.</i>

813
00:45:20,676 --> 00:45:23,179
-Congressman.
-Hey, Bob. Nice to see you.

814
00:45:23,262 --> 00:45:24,805
Good to see you.
Thanks for coming in.

815
00:45:24,889 --> 00:45:27,058
Well, I appreciate you taking the time.
Seriously.

816
00:45:27,141 --> 00:45:31,103
I know you're in the middle of a campaign
and this is an imposition.

817
00:45:31,187 --> 00:45:34,023
-No, it's not. Pleasure to meet you.
-It's great to meet you, too.

818
00:45:34,106 --> 00:45:36,651
-I have a lot to talk to you about.
-Great.

819
00:45:36,734 --> 00:45:38,694
<i>The Conservative Review...</i>

820
00:45:39,654 --> 00:45:40,947
has given you an award...

821
00:45:41,906 --> 00:45:46,035
for being one of
the two most conservative Republicans

822
00:45:46,118 --> 00:45:49,246
out of 247 Republicans in Congress.

823
00:45:49,330 --> 00:45:50,331
Yep.

824
00:45:50,414 --> 00:45:53,167
-You use the term "crony capitalism"...
-Yeah. Yep.

825
00:45:53,250 --> 00:45:55,670
What do you mean by "crony capitalism"?

826
00:45:55,753 --> 00:45:58,381
The big folks get together,
no matter what industry,

827
00:45:58,464 --> 00:46:01,050
protect their turf,
at the expense of the small guy.

828
00:46:01,133 --> 00:46:04,929
The government's job
is to make sure that doesn't happen.

829
00:46:05,012 --> 00:46:07,348
Instead, the government's job
has turned into,

830
00:46:07,431 --> 00:46:08,808
they make that happen.

831
00:46:08,891 --> 00:46:09,725
I mean...

832
00:46:10,309 --> 00:46:11,560
I'm not against business.

833
00:46:11,644 --> 00:46:13,646
But I'm against this crony business

834
00:46:13,729 --> 00:46:16,190
that takes advantage of the taxpayer.

835
00:46:16,273 --> 00:46:18,693
I do think it's coming. People--

836
00:46:18,776 --> 00:46:21,487
The intuition right now is clear.
Something is wrong.

837
00:46:21,988 --> 00:46:23,948
All over the country.
Right, left, everybody.

838
00:46:24,031 --> 00:46:25,282
Something is way off.

839
00:46:25,366 --> 00:46:30,913
The old assumption has been that
division is Democrat versus Republican.

840
00:46:30,997 --> 00:46:31,956
That's fading.

841
00:46:32,039 --> 00:46:33,708
But what we are beginning to see is that

842
00:46:33,791 --> 00:46:37,628
it's actually anti-establishment
versus establishment.

843
00:46:37,712 --> 00:46:38,546
Yep.

844
00:46:38,629 --> 00:46:42,216
It's people who don't want the big money
and the crony capitalism

845
00:46:42,299 --> 00:46:44,427
versus the crony capitalists.

846
00:46:44,885 --> 00:46:47,179
Democrats, Republicans,
conservatives, liberals...

847
00:46:47,263 --> 00:46:49,265
There's gonna be disagreement
on a lot of stuff.

848
00:46:49,348 --> 00:46:52,184
But if you could come together
on these fundamentals...

849
00:46:52,268 --> 00:46:53,102
It's fine with me.

850
00:46:53,185 --> 00:46:54,437
You're at a deeper level.

851
00:46:54,520 --> 00:46:57,148
You've been teaching economics
and all that for 30 years.

852
00:46:57,231 --> 00:46:58,607
I used to use your book.

853
00:46:58,691 --> 00:47:00,151
<i>-</i>You<i> </i>used to use my book?
-Yeah.

854
00:47:00,234 --> 00:47:01,944
-I used to--
-Can we just make--

855
00:47:02,028 --> 00:47:04,238
-I have a book out, too.
-Can we get that again?

856
00:47:06,032 --> 00:47:07,825
Congressman,
what do you think of the title?

857
00:47:08,451 --> 00:47:10,870
Yeah, it surprised me a bit
coming from you,

858
00:47:10,953 --> 00:47:12,204
but in a pleasant way.

859
00:47:12,288 --> 00:47:15,207
I think you and I are united.
We could do this in the right way.

860
00:47:15,291 --> 00:47:17,001
Ethics and capitalism together,

861
00:47:17,084 --> 00:47:18,210
and we'll save the country.

862
00:47:18,294 --> 00:47:20,337
-Congressman, thank you.
-Thank you very much.

863
00:47:27,261 --> 00:47:31,640
[Reich] <i>Everything fundamentally</i>
<i>comes down to American democracy.</i>

864
00:47:33,184 --> 00:47:34,852
<i>Is it working for most people?</i>

865
00:47:36,520 --> 00:47:39,023
<i>Or is it working for a very small number?</i>

866
00:47:43,527 --> 00:47:46,697
<i>Researchers at Princeton</i>
<i>and Northwestern University</i>

867
00:47:46,781 --> 00:47:50,242
<i>wanted to find out</i>
<i>how much political power</i>

868
00:47:50,326 --> 00:47:51,911
<i>ordinary citizens have.</i>

869
00:47:54,038 --> 00:47:55,831
<i>They examined a 20-year period,</i>

870
00:47:55,915 --> 00:47:58,459
<i>from 1982 to 2002.</i>

871
00:48:00,294 --> 00:48:04,507
<i>They first discovered that if large</i>
<i>corporations and wealthy individuals,</i>

872
00:48:04,590 --> 00:48:06,675
<i>regardless of political party,</i>

873
00:48:06,759 --> 00:48:08,385
<i>want a law passed,</i>

874
00:48:08,469 --> 00:48:11,639
<i>there's nearly a 60% chance</i>
<i>it will be passed.</i>

875
00:48:12,848 --> 00:48:14,975
<i>And if they don't want a certain law,</i>

876
00:48:15,059 --> 00:48:16,477
<i>it doesn't pass.</i>

877
00:48:18,604 --> 00:48:20,648
<i>Then they looked at everyday voters.</i>

878
00:48:21,816 --> 00:48:24,318
<i>Issues that almost no one supports</i>

879
00:48:24,401 --> 00:48:26,821
<i>having 30% chance of becoming law.</i>

880
00:48:28,239 --> 00:48:30,866
<i>Issues that almost everyone supports</i>

881
00:48:30,950 --> 00:48:34,245
<i>also have a 30% chance of becoming law.</i>

882
00:48:36,622 --> 00:48:38,457
<i>They concluded, in their own words....</i>

883
00:48:39,500 --> 00:48:42,253
<i>"The preferences of the average American</i>

884
00:48:42,962 --> 00:48:45,256
<i>appear to have only a miniscule -</i>

885
00:48:46,006 --> 00:48:46,966
<i>near zero -</i>

886
00:48:47,049 --> 00:48:52,096
<i>statistically non-significant impact</i>
<i>upon public policy."</i>

887
00:49:03,524 --> 00:49:06,569
I'm always struck by
how close you can come,

888
00:49:06,652 --> 00:49:08,779
as just an average American,
to the White House.

889
00:49:09,822 --> 00:49:10,656
But,

890
00:49:10,739 --> 00:49:14,785
your voice can't really reach
the decision-makers in the White House.

891
00:49:25,462 --> 00:49:27,464
<i>Over the last 50 years,</i>

892
00:49:27,882 --> 00:49:31,093
<i>Washington has become an Emerald City.</i>

893
00:49:31,886 --> 00:49:33,304
It's capital money.

894
00:49:33,387 --> 00:49:36,640
Money that is there for only one purpose,

895
00:49:36,724 --> 00:49:38,976
and that is to influence outcomes.

896
00:49:55,159 --> 00:49:56,827
It's apparent to me

897
00:49:57,369 --> 00:49:59,330
that certain judges are alleging

898
00:49:59,413 --> 00:50:04,251
that somehow corporations
have the same rights as citizens.

899
00:50:04,335 --> 00:50:05,878
I don't accept that premise.

900
00:50:06,503 --> 00:50:09,548
The US Supreme Court today
overturned laws on the books

901
00:50:09,632 --> 00:50:10,883
for nearly a century,

902
00:50:10,966 --> 00:50:14,220
and ruled that corporations
can spend freely now

903
00:50:14,303 --> 00:50:15,804
on political campaigns.

904
00:50:15,888 --> 00:50:17,514
What's the point in individual people

905
00:50:17,598 --> 00:50:20,017
trying to influence politics
with their donations

906
00:50:20,100 --> 00:50:22,895
if Exxon or some other company

907
00:50:22,978 --> 00:50:27,024
can quite literally match,
and therefore, cancel out,

908
00:50:27,107 --> 00:50:30,945
the combined donations of every single
individual donor in the nation?

909
00:50:31,028 --> 00:50:33,864
The cacophony now...

910
00:50:34,198 --> 00:50:35,783
of special interests...

911
00:50:36,951 --> 00:50:37,785
with...

912
00:50:38,077 --> 00:50:38,911
with...

913
00:50:39,578 --> 00:50:42,706
megaphones larger
than you've ever seen in your life,

914
00:50:43,374 --> 00:50:44,708
will drown out...

915
00:50:45,501 --> 00:50:47,544
the voice of the people.

916
00:50:48,754 --> 00:50:50,881
The bottom line is this.

917
00:50:51,840 --> 00:50:54,843
The Supreme Court
has just predetermined the winners

918
00:50:54,927 --> 00:50:56,720
of next November's elections.

919
00:50:57,137 --> 00:50:58,764
It won't be Republicans.

920
00:50:58,847 --> 00:51:00,266
It won't be Democrats.

921
00:51:00,349 --> 00:51:02,643
It will be corporate America.

922
00:51:16,907 --> 00:51:19,618
[crowd chanting]
Whose streets? Our streets!

923
00:51:19,702 --> 00:51:21,578
Whose streets? Our streets!

924
00:51:21,662 --> 00:51:23,038
Whose streets? Our streets!

925
00:51:23,122 --> 00:51:25,207
Whose streets? Our streets!

926
00:51:26,250 --> 00:51:28,544
[reporter #4]
<i>There was a giant show of support</i>

927
00:51:28,627 --> 00:51:31,505
<i>for the "Occupy Wall Street" movement</i>
<i>on Wednesday.</i>

928
00:51:31,588 --> 00:51:36,635
<i>Approximately 10,000 people</i>
<i>marched through lower Manhattan.</i>

929
00:51:36,719 --> 00:51:38,762
[chanting] We got sold out!

930
00:51:38,846 --> 00:51:39,680
The truth is,

931
00:51:39,763 --> 00:51:41,765
many of the reasons
they're hitting the streets

932
00:51:41,849 --> 00:51:45,060
are similar to the reasons
the Tea Partiers began their protest:

933
00:51:45,144 --> 00:51:47,938
crony capitalism,
bailouts to big business.

934
00:51:48,022 --> 00:51:51,400
[newscaster #3] Washington should listen
to their message because it is similar

935
00:51:51,483 --> 00:51:52,735
to the Tea Party's message.

936
00:51:52,818 --> 00:51:55,404
That is crony capitalism needs to stop.

937
00:51:55,487 --> 00:51:57,364
[chanting] We have a voice!

938
00:51:57,448 --> 00:51:59,366
We have a voice!

939
00:52:00,242 --> 00:52:03,162
They're spending our children's money,
our grandchildren's money.

940
00:52:03,245 --> 00:52:05,914
They're just going to continue
to push the country into debt.

941
00:52:05,998 --> 00:52:08,000
They're gonna destroy
the economy of America.

942
00:52:08,083 --> 00:52:09,752
This country is upside down.

943
00:52:09,835 --> 00:52:13,172
It's not working for 99%
of our society anymore.

944
00:52:13,255 --> 00:52:14,798
The 1% keep getting richer

945
00:52:14,882 --> 00:52:16,884
and everyone else
is getting poorer and poorer.

946
00:52:16,967 --> 00:52:21,472
[protestor] <i>It seems to me that the blame</i>
<i>has to be placed on both parties.</i>

947
00:52:21,555 --> 00:52:24,308
And it's time
we sent a clear message to them.

948
00:52:24,391 --> 00:52:27,895
You either stop railroading our people
and our country,

949
00:52:27,978 --> 00:52:29,730
or we're gonna throw all you bums out.

950
00:52:29,813 --> 00:52:32,316
[crowd cheering]

951
00:52:34,151 --> 00:52:36,487
[Megyn Kelly]
<i>It is 9:00 p.m. on the East Coast.</i>

952
00:52:36,570 --> 00:52:38,614
<i>And the moment of truth has arrived.</i>

953
00:52:38,697 --> 00:52:42,242
<i>Welcome to the first debate night</i>
<i>of the 2016 presidential campaign</i>

954
00:52:42,326 --> 00:52:44,078
<i>live from Quicken Loans Arena.</i>

955
00:52:44,161 --> 00:52:48,207
[Bret Baier] Mr. Trump, you have also
donated to several Democratic candidates.

956
00:52:48,290 --> 00:52:49,875
You explained away those donations,

957
00:52:49,958 --> 00:52:53,420
saying you did that
to get business-related favors.

958
00:52:53,504 --> 00:52:54,922
You said recently, quote,

959
00:52:55,005 --> 00:52:58,592
"When you give, they do
whatever the hell you want them to do."

960
00:52:58,675 --> 00:53:00,052
[Trump] You'd better believe it.

961
00:53:00,135 --> 00:53:02,054
-It's true.
-[Bret Baier] What did they do?

962
00:53:02,137 --> 00:53:04,932
I will tell you that our system is broken.

963
00:53:05,015 --> 00:53:06,600
I gave to many people.

964
00:53:06,683 --> 00:53:09,228
Before this, two months ago,
I was a businessman.

965
00:53:09,311 --> 00:53:11,522
I give to everybody.
When they call, I give.

966
00:53:11,605 --> 00:53:12,523
And you know what?

967
00:53:12,606 --> 00:53:16,693
When I need something from them
two, three years later, I call them.

968
00:53:16,777 --> 00:53:18,070
They are there for me.

969
00:53:18,153 --> 00:53:19,947
-What did you get?
-That's a broken system.

970
00:53:20,656 --> 00:53:23,033
I've never heard a candidate, never,

971
00:53:23,117 --> 00:53:25,786
who's received huge amounts of money
from oil,

972
00:53:25,869 --> 00:53:28,705
from coal, from Wall Street,

973
00:53:28,789 --> 00:53:30,999
from the military industrial complex...

974
00:53:31,083 --> 00:53:32,126
Not one candidate.

975
00:53:32,209 --> 00:53:36,171
"All these campaign contributions
will not influence me.

976
00:53:36,255 --> 00:53:37,673
I'm gonna be independent."

977
00:53:37,756 --> 00:53:41,718
But why do they make millions of dollars
of campaign contributions?

978
00:53:42,052 --> 00:53:44,179
They expect something.
Everybody knows that.

979
00:53:44,263 --> 00:53:47,933
You've received millions of dollars
in contributions and speaking fees

980
00:53:48,016 --> 00:53:49,226
from Wall Street companies.

981
00:53:49,309 --> 00:53:52,521
How do you convince voters
that you're gonna level the playing field

982
00:53:52,604 --> 00:53:54,731
when you're indebted
to its biggest players?

983
00:53:55,524 --> 00:53:58,610
Well, I think it's pretty clear
that they know that I will.

984
00:53:58,694 --> 00:54:01,488
<i>You've got two billionaire</i>
<i>hedge fund managers...</i>

985
00:54:03,073 --> 00:54:05,451
[woman] <i>They want to hear</i>
<i>your thoughts on Donald.</i>

986
00:54:05,534 --> 00:54:07,077
Oh, yeah.

987
00:54:07,161 --> 00:54:07,995
Trump.

988
00:54:08,078 --> 00:54:09,163
Brutally honest?

989
00:54:09,246 --> 00:54:10,539
[laughter]

990
00:54:10,622 --> 00:54:11,790
[woman] Go for it. Yeah!

991
00:54:11,874 --> 00:54:12,875
[overlapping chatter]

992
00:54:12,958 --> 00:54:14,418
I think he's a great businessman.

993
00:54:14,501 --> 00:54:15,335
[woman] Oh.

994
00:54:15,419 --> 00:54:18,755
I think this country needs
a businessman's standpoint.

995
00:54:19,506 --> 00:54:20,549
[woman] Yeah?

996
00:54:20,632 --> 00:54:23,093
-Do you know, he's against the union?
-A lot of people...

997
00:54:23,177 --> 00:54:24,970
Yeah, I do. I do.

998
00:54:25,053 --> 00:54:26,805
A lot of people don't like...

999
00:54:27,681 --> 00:54:30,934
like to hear it, but I think
that's what this country needs.

1000
00:54:31,018 --> 00:54:32,186
A businessman.

1001
00:54:32,728 --> 00:54:34,104
-Not a politician.
-There you go.

1002
00:54:35,063 --> 00:54:37,983
I'm totally thinking that

1003
00:54:38,400 --> 00:54:41,403
we're being led too much by politics.

1004
00:54:41,487 --> 00:54:42,905
-"Politics"...
-Yes.

1005
00:54:42,988 --> 00:54:45,866
...instead of running this country
like a business.

1006
00:54:45,949 --> 00:54:49,661
But Donald Trump... Just...
It's a joke. He makes it into a joke.

1007
00:54:49,745 --> 00:54:51,747
-I agree but--
-We're a joke in other countries.

1008
00:54:51,830 --> 00:54:54,791
-He addresses a lot of the issues...
-[Darvin] The anger.

1009
00:54:54,875 --> 00:54:56,585
-...that are on....
-[woman] The anger.

1010
00:54:56,668 --> 00:54:58,837
Anger or issues.

1011
00:54:58,921 --> 00:55:01,882
It's anger. It's anger. He's...

1012
00:55:01,965 --> 00:55:05,928
He's using the people's anger
over the way government is operated.

1013
00:55:06,011 --> 00:55:09,431
And why do you think he's getting
the reaction that he's getting?

1014
00:55:09,515 --> 00:55:13,143
It's because he's saying stuff
that people are thinking.

1015
00:55:13,227 --> 00:55:17,189
-[woman] Oh, yeah.
-He's getting the reaction of the people.

1016
00:55:17,272 --> 00:55:19,274
[Darvin]
That's the same thing with Bernie.

1017
00:55:19,358 --> 00:55:21,068
-Bernie's saying...
-[man #2] Exactly.

1018
00:55:21,151 --> 00:55:22,486
That's why I like Bernie.

1019
00:55:22,569 --> 00:55:25,030
-And I like Trump. I'm torn.
-[woman] I know.

1020
00:55:25,113 --> 00:55:27,407
Bernie is a smart, intelligent man.

1021
00:55:27,491 --> 00:55:29,368
Bernie is my man.

1022
00:55:29,451 --> 00:55:31,662
So it's not Republican - Democrat.

1023
00:55:31,745 --> 00:55:33,330
-[woman] No!
-[Darvin] No, it's both.

1024
00:55:33,413 --> 00:55:34,873
-It is. So...
-[woman] Both of them.

1025
00:55:34,957 --> 00:55:39,044
If it was up to me, I would say,
"Hey, let's get a fresh stack of...

1026
00:55:39,962 --> 00:55:41,338
people that we can put in office."

1027
00:55:41,421 --> 00:55:42,714
I don't like any of them now.

1028
00:55:42,798 --> 00:55:44,216
-[Darvin] Re-elect nobody.
-Huh?

1029
00:55:44,299 --> 00:55:46,593
-[Darvin] Re-elect nobody.
-[man #3] There you go!

1030
00:55:46,677 --> 00:55:47,970
[woman] Elect Willie Nelson.

1031
00:55:48,053 --> 00:55:48,887
[man #2 laughs]

1032
00:55:53,141 --> 00:55:56,436
Populism is a reaction
against those in power

1033
00:55:57,020 --> 00:55:59,690
in favor of the broad public.

1034
00:55:59,773 --> 00:56:03,110
But populism, let me hasten to say,

1035
00:56:03,193 --> 00:56:05,195
has two very different faces...

1036
00:56:06,488 --> 00:56:08,448
Donald Trump and Bernie Sanders.

1037
00:56:08,532 --> 00:56:09,658
[laughter]

1038
00:56:09,741 --> 00:56:11,868
But to be more general about it,

1039
00:56:11,952 --> 00:56:15,080
when people are angry
and frustrated and afraid,

1040
00:56:15,163 --> 00:56:17,708
and they feel economically insecure,

1041
00:56:17,791 --> 00:56:21,628
they tend to either move toward
authoritarian populism

1042
00:56:21,712 --> 00:56:24,172
which is, "Give me the strong man

1043
00:56:24,256 --> 00:56:26,717
who's going to fix everything
on behalf of the people."

1044
00:56:27,884 --> 00:56:29,261
But it's anti-Democratic

1045
00:56:29,344 --> 00:56:31,305
and often uses scapegoating

1046
00:56:31,388 --> 00:56:35,100
as a way to generate
greater and greater support.

1047
00:56:35,183 --> 00:56:37,060
Or, alternatively,

1048
00:56:37,144 --> 00:56:39,855
populism can take the form of reform.

1049
00:56:39,938 --> 00:56:42,357
That is "We're gonna rebuild the system.

1050
00:56:42,441 --> 00:56:45,485
We're going to create
a very, very different system

1051
00:56:45,569 --> 00:56:48,572
that is much more reflective
of the people's needs."

1052
00:56:49,615 --> 00:56:53,327
So populism is not necessarily good.

1053
00:56:53,410 --> 00:56:54,536
It depends...

1054
00:56:55,037 --> 00:56:57,456
on what form it takes.

1055
00:57:10,302 --> 00:57:12,721
<i>Faith in our major institutions</i>

1056
00:57:12,804 --> 00:57:15,182
<i>has plummeted over the last 30 years.</i>

1057
00:57:16,224 --> 00:57:17,476
<i>And this is dangerous.</i>

1058
00:57:18,101 --> 00:57:21,813
Because if people don't trust
that our society

1059
00:57:21,897 --> 00:57:24,024
is working for most people...

1060
00:57:25,609 --> 00:57:27,986
then they are very vulnerable.

1061
00:57:39,331 --> 00:57:42,709
<i>We're at a critical turning point</i>
<i>in this country.</i>

1062
00:57:43,710 --> 00:57:47,381
<i>And we're either going to go</i>
<i>toward authoritarian populism...</i>

1063
00:57:48,924 --> 00:57:50,425
<i>over the long-term,</i>

1064
00:57:50,509 --> 00:57:54,096
<i>or we're going to go</i>
<i>in the direction of a democratic...</i>

1065
00:57:54,179 --> 00:57:56,014
<i>a fundamental democratic change.</i>

1066
00:58:00,477 --> 00:58:04,147
<i>A democracy is a very fragile thing.</i>

1067
00:58:13,281 --> 00:58:15,534
<i>The other day,</i>
<i>I was going through the airport.</i>

1068
00:58:15,617 --> 00:58:17,452
Somebody came up to me -
a complete stranger.

1069
00:58:17,536 --> 00:58:18,829
She said to me,

1070
00:58:19,413 --> 00:58:20,622
"So, what are we gonna do?"

1071
00:58:20,706 --> 00:58:24,167
[laughter]

1072
00:58:24,251 --> 00:58:25,711
I said, "I don't know."

1073
00:58:25,794 --> 00:58:27,546
[laughter]

1074
00:58:27,629 --> 00:58:30,382
And then other people in other airports
and other places,

1075
00:58:30,465 --> 00:58:31,550
they come up and say,

1076
00:58:32,884 --> 00:58:34,094
"Can you believe it?"

1077
00:58:34,177 --> 00:58:36,054
[laughter]

1078
00:58:37,139 --> 00:58:40,976
The way we get our economy back...

1079
00:58:42,686 --> 00:58:45,605
really is about the way
we get our democracy back.

1080
00:58:46,857 --> 00:58:48,734
And that is getting together

1081
00:58:49,651 --> 00:58:52,654
and creating institutions

1082
00:58:53,071 --> 00:58:57,034
that countervail the power
of the biggest corporations,

1083
00:58:57,117 --> 00:58:59,411
and the biggest banks
and the wealthiest people.

1084
00:58:59,911 --> 00:59:05,125
Citizenship is more than just voting
and jury duty and paying taxes.

1085
00:59:05,208 --> 00:59:09,004
Citizenship really is participating
and engaging

1086
00:59:09,087 --> 00:59:12,674
and making a ruckus
when a ruckus is necessary.

1087
00:59:13,300 --> 00:59:16,261
It's all of our responsibilities
to make sure for ourselves,

1088
00:59:16,344 --> 00:59:18,847
but also for our children
and grandchildren...

1089
00:59:21,308 --> 00:59:23,351
that we make this thing work.

1090
00:59:25,979 --> 00:59:26,897
Thank you.

1091
00:59:26,980 --> 00:59:29,524
[applause]

1092
00:59:29,608 --> 00:59:31,902
Thank you for coming tonight. Thank you.

1093
00:59:32,652 --> 00:59:34,571
Thank you. Thank you.

1094
00:59:35,989 --> 00:59:37,532
I stay positive,

1095
00:59:37,616 --> 00:59:39,576
first, because I know American history.

1096
00:59:39,659 --> 00:59:45,248
I know that every time
capitalism gets off the rails,

1097
00:59:46,083 --> 00:59:49,377
our instinct in this country
is to put it back on the rails.

1098
01:00:02,140 --> 01:00:06,103
<i>We are seeing the same kind of</i>
<i>concentrated income and wealth,</i>

1099
01:00:06,186 --> 01:00:09,439
<i>the same kind of political corruption.</i>

1100
01:00:09,523 --> 01:00:13,610
<i>We saw the same thing</i>
<i>in the 1880s and 1890s.</i>

1101
01:00:14,528 --> 01:00:17,614
<i>And the rules added to the wealth.</i>

1102
01:00:17,697 --> 01:00:22,285
You saw a similar kind of vicious cycle
to the vicious cycle we have now.

1103
01:00:25,664 --> 01:00:28,875
<i>People became so angry.</i>

1104
01:00:30,418 --> 01:00:33,922
<i>And that anger was channeled</i>
<i>in a positive direction.</i>

1105
01:00:36,716 --> 01:00:38,969
<i>People organized themselves</i>

1106
01:00:39,052 --> 01:00:43,807
<i>and changed the organization</i>
<i>of the political economic system.</i>

1107
01:00:46,977 --> 01:00:50,063
<i>The first major</i>
<i>antitrust legislation was passed,</i>

1108
01:00:50,480 --> 01:00:52,232
<i>which broke up huge monopolies.</i>

1109
01:00:54,568 --> 01:00:56,695
<i>And then President Teddy Roosevelt</i>

1110
01:00:56,778 --> 01:00:58,488
<i>signed a law that prohibited</i>

1111
01:00:58,572 --> 01:01:01,449
<i>corporate donations</i>
<i>to political campaigns.</i>

1112
01:01:07,581 --> 01:01:09,875
<i>We don't succumb,</i>

1113
01:01:09,958 --> 01:01:11,710
<i>as other countries have,</i>

1114
01:01:11,793 --> 01:01:14,045
<i>to fascism or communism.</i>

1115
01:01:14,129 --> 01:01:16,256
<i>We are much more pragmatic than that.</i>

1116
01:01:18,091 --> 01:01:19,718
And I think we'll do it again.

1117
01:02:13,396 --> 01:02:16,358
[Reich]
<i>I'm also optimistic because I teach.</i>

1118
01:02:16,441 --> 01:02:19,819
<i>I surround myself every day</i>
<i>with young people.</i>

1119
01:02:20,403 --> 01:02:23,198
And I see in young people today

1120
01:02:23,281 --> 01:02:25,909
a huge yearning,

1121
01:02:25,992 --> 01:02:28,912
a huge dedication
to making the system work.

1122
01:02:28,995 --> 01:02:32,457
[indistinct chatter]

1123
01:02:37,879 --> 01:02:40,131
It's a time of great, great opportunity

1124
01:02:40,215 --> 01:02:41,925
and great, great danger.

1125
01:02:43,093 --> 01:02:46,429
Some of you,
and I don't know who it is,

1126
01:02:46,513 --> 01:02:48,139
and I don't know how many of you...

1127
01:02:49,933 --> 01:02:53,061
will be part of the solution.

1128
01:02:54,521 --> 01:02:57,190
Some of you will be leaders.

1129
01:02:58,441 --> 01:03:00,860
Does everyone have a seat? I can't...

1130
01:03:00,944 --> 01:03:02,654
[overlapping chatter]

1131
01:03:02,737 --> 01:03:05,365
This is the most extraordinary...

1132
01:03:06,658 --> 01:03:08,660
historic period I've lived through.

1133
01:03:10,328 --> 01:03:12,789
And I'm old enough
to have lived through a number.

1134
01:03:13,623 --> 01:03:18,044
This summer marks the 50th year for me

1135
01:03:18,128 --> 01:03:20,255
that I've been involved
in and out of government.

1136
01:03:20,755 --> 01:03:23,174
And so it's a little bit humbling

1137
01:03:23,258 --> 01:03:26,177
to think that it's been 50 years,

1138
01:03:26,261 --> 01:03:27,929
and we're in deeper shit...

1139
01:03:28,013 --> 01:03:29,014
[laughter]

1140
01:03:29,097 --> 01:03:30,140
...than we were then.

1141
01:03:30,974 --> 01:03:35,020
If you've got young people
who don't have the experience

1142
01:03:35,645 --> 01:03:38,773
of a system that is actually working,

1143
01:03:39,941 --> 01:03:43,028
then where do they get
their idealism from?

1144
01:03:47,657 --> 01:03:50,535
Where is the next generation
going to draw its...

1145
01:03:53,580 --> 01:03:54,622
strength from?

1146
01:03:55,206 --> 01:03:57,417
[student]
I wouldn't say that American history

1147
01:03:57,500 --> 01:04:00,295
has had a golden age and we've passed it.

1148
01:04:00,378 --> 01:04:04,924
But I do think that at least there was
a sense that we were better together.

1149
01:04:05,008 --> 01:04:08,219
A sense of shared identity.
I don't think that exists so much anymore.

1150
01:04:08,303 --> 01:04:11,348
Certainly, there are moments of despair
and hopelessness

1151
01:04:11,431 --> 01:04:14,142
and the sense that, like,
all of this is for nothing.

1152
01:04:14,225 --> 01:04:16,978
So, like, that... That comes, too.

1153
01:04:17,562 --> 01:04:20,065
But you have to believe things
will get better.

1154
01:04:20,148 --> 01:04:21,149
Or...

1155
01:04:21,733 --> 01:04:23,943
Or you'll just always
be living in hopelessness.

1156
01:04:24,361 --> 01:04:26,029
But it's also an opportunity

1157
01:04:26,112 --> 01:04:31,701
because people are also getting more aware
and more understanding of the challenges,

1158
01:04:31,785 --> 01:04:33,703
and that's mobilizing people, also,

1159
01:04:33,787 --> 01:04:36,539
into making people act
and reflect on and...

1160
01:04:37,916 --> 01:04:39,334
participate in politics.

1161
01:04:40,377 --> 01:04:41,586
So, it's... It's hope.

1162
01:04:42,629 --> 01:04:45,090
I wish, with hindsight,

1163
01:04:45,173 --> 01:04:47,717
that when I had had the opportunity...

1164
01:04:50,303 --> 01:04:51,638
in government...

1165
01:04:51,721 --> 01:04:54,474
I wished I had pushed harder.

1166
01:05:00,897 --> 01:05:03,525
But at the time, I thought
I was pushing as hard as I could.

1167
01:05:04,567 --> 01:05:05,902
As hard as I dared.

1168
01:05:09,406 --> 01:05:11,533
It's now up to the next generation.

1169
01:05:26,506 --> 01:05:28,967
[Reich] All social change occurs

1170
01:05:29,676 --> 01:05:32,971
when people become aware of a tension

1171
01:05:33,054 --> 01:05:35,974
between the ideal
that they carry around in their heads

1172
01:05:36,057 --> 01:05:38,518
about how the system really ought to work,

1173
01:05:39,144 --> 01:05:40,812
and the reality they see around them.

1174
01:05:41,563 --> 01:05:43,731
<i>And when that tension becomes too great,</i>

1175
01:05:43,815 --> 01:05:46,276
<i>that dissonance becomes too intense,</i>

1176
01:05:46,693 --> 01:05:50,613
<i>they are willing to take action.</i>

1177
01:05:54,868 --> 01:05:56,327
[crowd chanting] Affordable care!

1178
01:05:56,411 --> 01:05:58,705
-We want it now!
-We want it now!

1179
01:05:59,664 --> 01:06:02,876
[Guadalupe] <i>It's getting a bit better</i>
<i>because we are doing something</i>

1180
01:06:02,959 --> 01:06:04,502
<i>to make a change.</i>

1181
01:06:05,128 --> 01:06:10,884
I've been fighting for $15 in the union
for about three-and-a-half years.

1182
01:06:13,511 --> 01:06:14,929
What do we want?

1183
01:06:15,555 --> 01:06:17,474
$15 in the union!

1184
01:06:17,557 --> 01:06:19,642
When do we want it?

1185
01:06:19,726 --> 01:06:20,560
[crowd] Now!

1186
01:06:21,769 --> 01:06:24,105
My friends, this is about power.

1187
01:06:26,232 --> 01:06:30,945
It's about reclaiming our democracy
and reclaiming our economy.

1188
01:06:31,029 --> 01:06:33,698
[crowd cheering]

1189
01:06:33,781 --> 01:06:37,368
This is a huge victory. I feel very proud.

1190
01:06:38,328 --> 01:06:43,541
Because now the rest of the nation
is looking at us.

1191
01:06:43,625 --> 01:06:46,920
And they're seeing that $15 per hour...

1192
01:06:47,003 --> 01:06:48,588
It's achievable.

1193
01:06:48,671 --> 01:06:49,881
We can do it.

1194
01:07:00,517 --> 01:07:04,354
[overlapping chatter and laughter]

1195
01:07:04,437 --> 01:07:07,440
We're getting hardened on how to organize.

1196
01:07:07,524 --> 01:07:11,402
When they start trying to discredit you,
and belittle you,

1197
01:07:11,486 --> 01:07:12,946
you know you're making an impact.

1198
01:07:13,029 --> 01:07:14,489
[sounds drowns out]

1199
01:07:14,572 --> 01:07:16,032
[indistinct shouting]

1200
01:07:16,115 --> 01:07:17,242
[Victoria] My question is,

1201
01:07:17,325 --> 01:07:21,788
how can I be sure that you will
advocate for me as your constituent,

1202
01:07:21,871 --> 01:07:27,418
and can you guarantee for me
quality affordable healthcare, at age 26,

1203
01:07:27,502 --> 01:07:30,672
with a pre-existing condition,
as I live below the poverty level?

1204
01:07:30,755 --> 01:07:34,801
[loud cheering]

1205
01:07:34,884 --> 01:07:38,221
[cheering and whistling]

1206
01:07:42,475 --> 01:07:44,227
It's <i>Office Hours Live</i>.

1207
01:07:44,310 --> 01:07:45,144
[cheering]

1208
01:07:45,228 --> 01:07:48,439
A lot of people who, until now, have said,
"Well, politics is out there,

1209
01:07:48,523 --> 01:07:50,233
politics is for other people",

1210
01:07:50,316 --> 01:07:53,444
are now understanding
that they can't sit back.

1211
01:07:53,528 --> 01:07:55,196
The people in control

1212
01:07:55,280 --> 01:08:00,868
have reason and means
to keep us in separate groups

1213
01:08:00,952 --> 01:08:03,204
and keep us angry at each other.

1214
01:08:03,288 --> 01:08:05,415
The strength you have is in numbers.

1215
01:08:05,498 --> 01:08:07,667
-[group] Right.
-It's not just in guts.

1216
01:08:07,750 --> 01:08:08,835
[woman #2] That's right.

1217
01:08:13,006 --> 01:08:14,382
I ask you all

1218
01:08:14,465 --> 01:08:16,467
to take five minutes out of your day

1219
01:08:16,551 --> 01:08:21,931
and make at least one phone call
to your congressperson,

1220
01:08:22,015 --> 01:08:24,142
one phone call to your senator,

1221
01:08:24,225 --> 01:08:25,518
and I guarantee you,

1222
01:08:25,602 --> 01:08:29,063
that if we continue doing so,
we will succeed.

1223
01:08:29,147 --> 01:08:32,483
[cheering]

1224
01:08:32,567 --> 01:08:34,569
[chanting] Do your job! Do your job!

1225
01:08:34,652 --> 01:08:37,405
Do your job! Do your job!

1226
01:08:38,906 --> 01:08:44,037
[Reich] <i>The only way forward to a system</i>
<i>that works for the majority of us,</i>

1227
01:08:44,454 --> 01:08:46,039
<i>is to get organized</i>

1228
01:08:46,122 --> 01:08:47,624
<i>and politically active.</i>

1229
01:08:48,166 --> 01:08:49,876
[indistinct speech]

1230
01:08:49,959 --> 01:08:52,670
[Reich] <i>The moneyed interests</i>
<i>are doing what they do best -</i>

1231
01:08:53,171 --> 01:08:54,047
<i>making money.</i>

1232
01:08:54,130 --> 01:08:55,131
[speaks indistinctly]

1233
01:08:56,090 --> 01:08:59,385
[Reich] <i>The rest of us need to do</i>
<i>what we can do best...</i>

1234
01:09:00,303 --> 01:09:02,013
<i>Use our voices.</i>

1235
01:09:03,264 --> 01:09:04,682
<i>Our vigor.</i>

1236
01:09:05,683 --> 01:09:07,101
<i>And our votes.</i>

1237
01:09:10,480 --> 01:09:13,149
It's up to us to change the rules.

1238
01:09:15,193 --> 01:09:17,278
[music playing]

1239
01:09:26,663 --> 01:09:30,375
If you're gonna be a citizen activist,
three things...

1240
01:09:30,458 --> 01:09:33,711
Number one,
you've got to be tenacious and patient.

1241
01:09:33,795 --> 01:09:36,339
Social change does not happen quickly.

1242
01:09:42,470 --> 01:09:43,513
Number two,

1243
01:09:43,596 --> 01:09:45,640
talk to people who disagree with you.

1244
01:09:45,723 --> 01:09:47,100
Get out of your bubble.

1245
01:09:47,183 --> 01:09:49,936
Maybe they will convince you
that you are wrong,

1246
01:09:50,019 --> 01:09:51,854
or you'll convince them
that they are wrong.

1247
01:09:51,938 --> 01:09:53,189
But you've got to talk to them!

1248
01:09:57,443 --> 01:09:58,903
Number three,

1249
01:09:59,278 --> 01:10:00,780
have some fun.

1250
01:10:02,780 --> 01:10:04,780
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