Author Nomi Prins used to be a Wall Street banker. Now she writes with a critical eye about how banks and economies work.
One example: how in 2017, U.S. banks used 99 percent of their earnings to buy their own stocks and pay out dividends to their shareholders.
In the wake of The Great Recession, the hope was that the banks would start putting money back into the economy. Prins’ new book, titled “Collusion: How Central Bankers Rigged the World,” condemns the role politicians, government regulators and bankers have played in supporting an ultimately unsustainable global banking system. She contends that their economically dubious policies will make the next financial crisis worse than the last.
Prins gave this Town Hall Seattle talk on May 7 at Summit on Pike. KUOW’s Jennie Cecil Moore recorded her remarks.
Listen to the full version below: