0 00:00:11,000 --> 00:00:20,000 1 00:00:10,010 --> 00:00:13,596 [Robert Reich] In 1964, I got a job on a radio station. 2 00:00:15,473 --> 00:00:19,728 They needed somebody from midnight to, it must have been, 4:00 or 6:00 a.m. 3 00:00:21,938 --> 00:00:26,192 The station policy was you can only play the same Top 10 songs, 4 00:00:26,276 --> 00:00:28,194 over and over and over again. 5 00:00:29,988 --> 00:00:32,699 I just... I was so bored, that I... I... 6 00:00:32,782 --> 00:00:34,325 I announced on the air, 7 00:00:34,868 --> 00:00:36,661 "If anybody's listening to this program 8 00:00:36,745 --> 00:00:39,414 and would like to engage in a little bit of a banter, 9 00:00:39,497 --> 00:00:42,917 just a little discussion - not much, just 30 seconds - 10 00:00:43,001 --> 00:00:44,002 it would be great. 11 00:00:44,961 --> 00:00:48,047 And I'll give you 25 bucks, the first person who calls in." 12 00:00:48,923 --> 00:00:50,884 This was before talk radio, by the way. 13 00:00:51,926 --> 00:00:53,136 And nobody called in. 14 00:00:54,304 --> 00:00:55,889 I upped it to $50. 15 00:00:57,432 --> 00:00:58,516 Nobody called in. 16 00:00:59,893 --> 00:01:01,436 I got up to $100. 17 00:01:01,936 --> 00:01:03,396 Not a soul called in. 18 00:01:07,567 --> 00:01:09,486 And I had a feeling... 19 00:01:10,695 --> 00:01:13,573 of what so many people have felt, 20 00:01:13,656 --> 00:01:16,242 and continued to feel for years, 21 00:01:18,119 --> 00:01:20,663 of desperately wanting to be heard... 22 00:01:22,582 --> 00:01:24,793 and nobody is listening. 23 00:01:26,336 --> 00:01:28,254 [all chant] The whole world is watching! 24 00:01:29,714 --> 00:01:31,716 [shouts] Protect who you serve! 25 00:01:31,800 --> 00:01:33,176 You work for us! 26 00:01:33,259 --> 00:01:35,220 Work hard - we have! 27 00:01:38,223 --> 00:01:42,727 [Reich] There's a huge amount of anger and frustration in the United States. 28 00:01:43,728 --> 00:01:45,313 It's been growing for years. 29 00:01:47,524 --> 00:01:50,693 People are worried about their jobs, they're worried about their wages. 30 00:01:51,361 --> 00:01:54,948 They feel like they don't have a voice in deciding anything 31 00:01:55,031 --> 00:01:56,366 that pertains to them, 32 00:01:56,449 --> 00:01:58,159 politically or economically. 33 00:01:59,702 --> 00:02:01,538 I pick this up everywhere I go. 34 00:02:06,376 --> 00:02:09,045 Americans all over the country are asking... 35 00:02:09,629 --> 00:02:10,922 [applause] 36 00:02:11,005 --> 00:02:13,716 "How can we make our voices heard?" 37 00:02:21,975 --> 00:02:24,686 [indistinct conversation] 38 00:02:27,522 --> 00:02:28,439 [cheering] 39 00:02:28,523 --> 00:02:29,482 Well, thank you. 40 00:02:36,489 --> 00:02:38,241 [loud applause] 41 00:02:39,909 --> 00:02:42,370 The name of the book is Saving Capitalism. 42 00:02:42,829 --> 00:02:45,248 I've got two kinds of reactions just to the title. 43 00:02:45,331 --> 00:02:47,292 "Saving Capitalism? Wait a minute. 44 00:02:47,375 --> 00:02:50,712 That implies that there's something wrong with capitalism." 45 00:02:55,425 --> 00:02:56,801 How are you paying for this? 46 00:02:56,885 --> 00:02:58,011 There are others who say... 47 00:02:58,511 --> 00:03:00,805 "Why would you want to save capitalism?" 48 00:03:00,889 --> 00:03:02,307 [laughter] 49 00:03:05,727 --> 00:03:08,771 [announcer] Robert Reich, Professor of Public Policy at UC Berkeley 50 00:03:08,855 --> 00:03:11,816 and former Secretary of Labor under President Clinton. 51 00:03:12,525 --> 00:03:14,068 [Geist] You've captured this moment 52 00:03:14,152 --> 00:03:16,571 in American culture and politics very well in this book. 53 00:03:16,654 --> 00:03:19,365 It's Saving Capitalism: For the Many, Not the Few. 54 00:03:19,449 --> 00:03:21,701 [Mike Barnacle] We've got 20 seconds. Can you...? 55 00:03:21,784 --> 00:03:23,870 [Reich] I thought we'd have more time than that. 56 00:03:23,953 --> 00:03:24,996 [laughter] 57 00:03:25,079 --> 00:03:27,665 Can you define the aspirations of the middle class today, 58 00:03:27,749 --> 00:03:29,584 as opposed to 30 years ago? 59 00:03:29,667 --> 00:03:31,961 I think the aspiration of the middle class today 60 00:03:32,045 --> 00:03:34,297 is almost exactly what it was 30 years ago. 61 00:03:34,380 --> 00:03:35,924 That is: "Let's have a better life." 62 00:03:36,007 --> 00:03:38,593 "If I'm working hard, I want my children to have a better life." 63 00:03:38,676 --> 00:03:43,014 Upward mobility is what people expect from this system, but they aren't getting it. 64 00:03:43,598 --> 00:03:46,726 Most Americans now have severe doubts about the system. 65 00:03:46,809 --> 00:03:48,353 They think the system is rigged. 66 00:03:48,811 --> 00:03:52,857 The real issue is, is the system working for most people, 67 00:03:52,941 --> 00:03:55,235 or is it working for a very small group, 68 00:03:55,318 --> 00:03:57,237 becoming smaller and smaller at the top? 69 00:03:57,320 --> 00:03:59,489 Robert Reich, thank you very much for being with us. 70 00:03:59,572 --> 00:04:02,325 Former Labor Secretary under President Clinton... 71 00:04:04,619 --> 00:04:08,414 These days, a lot of people certainly know the game is rigged. 72 00:04:08,498 --> 00:04:10,083 They hear that, they feel it. 73 00:04:10,166 --> 00:04:12,001 But they don't know exactly how it's rigged. 74 00:04:15,922 --> 00:04:20,468 [Reich] I wanted to go to where people didn't really know me, my books... 75 00:04:22,095 --> 00:04:24,639 I wanted to go to places where I could actually interact. 76 00:04:26,641 --> 00:04:30,770 I didn't expect to sell many books, but I did hope to learn something. 77 00:04:32,647 --> 00:04:33,898 [Yuja] You found us. 78 00:04:33,982 --> 00:04:35,483 -[Reich] Hi, Yuja. -[Yuja] Welcome. 79 00:04:35,566 --> 00:04:38,194 -[Reich] Nice to see you. -[Yuja] So great to finally meet you. 80 00:04:38,278 --> 00:04:39,320 Look who we found. 81 00:04:39,821 --> 00:04:41,114 -Morning! -Reverend Sandoval. 82 00:04:41,197 --> 00:04:42,949 -Welcome to Kansas City. -Reverend. 83 00:04:43,032 --> 00:04:44,534 -Thank you. -Claudia Nelson. 84 00:04:44,617 --> 00:04:45,994 Hi, Claudia. 85 00:04:46,077 --> 00:04:47,996 -You're Chair of the Board? -I'm the Chair. 86 00:04:48,079 --> 00:04:52,583 I am a part of this work because of my family and my community. 87 00:04:52,667 --> 00:04:54,711 My youngest son, Paul, 88 00:04:54,794 --> 00:04:56,713 is married and has four little children. 89 00:04:56,796 --> 00:04:58,089 He's worked all of his life. 90 00:04:58,172 --> 00:05:01,050 But unlike when I started to work as a young person, 91 00:05:01,759 --> 00:05:04,637 he seems to find jobs that don't have a livable wage. 92 00:05:04,721 --> 00:05:06,514 They're not full-time jobs. 93 00:05:06,597 --> 00:05:09,767 He works 60 hours-plus a week to take care of his wife and four kids, 94 00:05:09,851 --> 00:05:11,811 and still struggles a lot, 95 00:05:11,894 --> 00:05:14,272 even to the point that he's had to move back in my house 96 00:05:14,355 --> 00:05:16,983 with his family of six at one point, 97 00:05:17,817 --> 00:05:20,570 because they continued to struggle. 98 00:05:20,653 --> 00:05:24,157 His wife has $100,000 in debt in student loans. 99 00:05:24,240 --> 00:05:26,492 She has a Master's degree. She has no job. 100 00:05:27,076 --> 00:05:30,538 It is not an uncommon story in our community. 101 00:05:31,122 --> 00:05:33,750 Unfortunately, Claudia, I'm hearing it all the time. 102 00:05:34,334 --> 00:05:36,794 And it's... 103 00:05:36,878 --> 00:05:40,298 It's a story that affects huge numbers of Americans. 104 00:05:40,965 --> 00:05:43,926 A lot of these things that we're talking about, to me, 105 00:05:44,427 --> 00:05:46,054 is all a spin-off... 106 00:05:46,846 --> 00:05:47,722 of... 107 00:05:48,806 --> 00:05:51,517 an economy that has been immoral 108 00:05:51,976 --> 00:05:53,061 from its inception. 109 00:05:53,144 --> 00:05:56,898 It was not designed to include everyone... 110 00:05:57,815 --> 00:05:59,358 in a fair way, 111 00:05:59,442 --> 00:06:01,360 in the sense of access. 112 00:06:02,570 --> 00:06:05,448 How do you reform something that's immoral... 113 00:06:06,115 --> 00:06:07,408 at its core? 114 00:06:09,368 --> 00:06:13,081 There's nothing inherent in an economic system 115 00:06:13,164 --> 00:06:15,792 that makes it either immoral or moral, or good or bad. 116 00:06:15,875 --> 00:06:17,543 It depends on how it's organized. 117 00:06:17,835 --> 00:06:19,921 And if it's organized for people, 118 00:06:20,838 --> 00:06:23,716 then it can be a good and moral system. 119 00:06:31,057 --> 00:06:32,809 [Reich] Our American economic system - 120 00:06:32,892 --> 00:06:34,227 capitalism - 121 00:06:34,310 --> 00:06:36,938 is a system based on private property 122 00:06:37,021 --> 00:06:39,607 and a free exchange of goods and services. 123 00:06:41,776 --> 00:06:44,612 One of America's greatest strengths is our free market. 124 00:06:44,695 --> 00:06:46,656 Let the free market system decide. 125 00:06:46,739 --> 00:06:48,282 We all believe in the free market. 126 00:06:48,366 --> 00:06:49,534 You know, that's... 127 00:06:49,617 --> 00:06:51,786 That's what our capitalist system is about. 128 00:06:51,869 --> 00:06:56,624 The law of supply and demand operating unimpeded by government. 129 00:06:56,707 --> 00:06:59,752 Government is not the solution to our problem, 130 00:07:00,586 --> 00:07:02,088 government is the problem. 131 00:07:05,550 --> 00:07:10,513 Few ideas have more profoundly poisoned the minds of so many 132 00:07:10,805 --> 00:07:13,307 as the notion of a free market 133 00:07:13,391 --> 00:07:15,810 existing somewhere in the universe... 134 00:07:16,894 --> 00:07:19,188 into which the government intrudes. 135 00:07:23,317 --> 00:07:25,695 There's no such thing as a free market 136 00:07:25,778 --> 00:07:28,030 without government making the rules of the game. 137 00:07:31,701 --> 00:07:32,910 What kind of rules? 138 00:07:33,703 --> 00:07:35,079 Rules governing property. 139 00:07:36,038 --> 00:07:37,248 Monopoly. 140 00:07:38,040 --> 00:07:39,208 Contracts. 141 00:07:40,042 --> 00:07:41,169 Bankruptcy. 142 00:07:41,794 --> 00:07:43,004 And enforcement. 143 00:07:44,213 --> 00:07:45,590 Let's take property. 144 00:07:47,800 --> 00:07:49,427 Until the 1860s, 145 00:07:49,927 --> 00:07:53,306 human beings were lawful property in the United States. 146 00:07:54,307 --> 00:07:57,685 It took years of activism and a civil war, 147 00:07:57,768 --> 00:08:00,271 but Americans finally made slavery illegal. 148 00:08:02,940 --> 00:08:04,192 We'll take bankruptcy. 149 00:08:04,609 --> 00:08:06,235 If you're a big business, 150 00:08:06,319 --> 00:08:08,779 you can declare bankruptcy over and over again 151 00:08:08,863 --> 00:08:10,323 to protect your assets. 152 00:08:11,240 --> 00:08:12,617 But if you're a student, 153 00:08:12,700 --> 00:08:15,286 you can't reorganize your debt in bankruptcy. 154 00:08:15,828 --> 00:08:19,540 Or if you're a homeowner who's under water because the market has collapsed, 155 00:08:19,624 --> 00:08:21,125 you can't use bankruptcy. 156 00:08:21,209 --> 00:08:22,210 It's illegal. 157 00:08:24,587 --> 00:08:26,589 These rules don't come from nature. 158 00:08:27,131 --> 00:08:30,343 They reflect the interests of those with the most power. 159 00:08:31,469 --> 00:08:33,679 Which means they change over time. 160 00:08:35,223 --> 00:08:37,600 [cheering] 161 00:08:37,683 --> 00:08:39,977 [cheering continues] 162 00:08:40,061 --> 00:08:43,022 In the name of all those who do the work, 163 00:08:43,105 --> 00:08:44,607 pay the taxes, 164 00:08:44,690 --> 00:08:47,235 raise the kids and play by the rules... 165 00:08:47,860 --> 00:08:52,990 In the name of the hard-working Americans who make up our forgotten middle class, 166 00:08:53,574 --> 00:08:55,868 I proudly accept your nomination 167 00:08:55,952 --> 00:08:58,496 for President of the United States. 168 00:08:58,579 --> 00:09:01,165 [loud cheering] 169 00:09:02,625 --> 00:09:04,293 [Reich] Just about 50 years ago, 170 00:09:04,377 --> 00:09:05,503 I met Bill Clinton. 171 00:09:07,713 --> 00:09:09,882 I had already met Hillary Rodham. 172 00:09:10,216 --> 00:09:13,553 She was an undergraduate at Wellesley. 173 00:09:13,636 --> 00:09:16,639 I had been president of my class at Dartmouth. 174 00:09:17,640 --> 00:09:19,767 We were both involved in student government. 175 00:09:20,309 --> 00:09:22,520 So I knew her and I knew Bill. And I... 176 00:09:22,603 --> 00:09:24,730 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 00:09:31,320 --> 00:09:32,738 I said, "Great, Hillary. 180 00:09:32,822 --> 00:09:35,992 I want to introduce to you my friend from Oxford. 181 00:09:36,075 --> 00:09:38,244 We were just at Oxford together. Bill Clinton." 182 00:09:38,327 --> 00:09:39,537 She said, "Hi, Bill." 183 00:09:39,620 --> 00:09:41,998 And he said, "Hi, Hillary." 184 00:09:44,375 --> 00:09:45,918 [Reich] And then, 25 years ago, 185 00:09:46,002 --> 00:09:47,545 Bill Clinton called me. 186 00:09:47,628 --> 00:09:50,256 He wanted me to be his Secretary of Labor. 187 00:09:50,840 --> 00:09:52,174 I was excited, 188 00:09:52,258 --> 00:09:55,511 because maybe we could actually make some real, real progress. 189 00:09:56,804 --> 00:10:00,224 You had this pent-up demand in the country 190 00:10:00,308 --> 00:10:02,143 for something that is very, very different, 191 00:10:02,226 --> 00:10:04,061 that has a different vision. 192 00:10:05,229 --> 00:10:09,984 We wanted to create the possibilities 193 00:10:10,526 --> 00:10:15,740 for people who were not really yet participating in the economy. 194 00:10:16,073 --> 00:10:18,242 Because it was building the future of the country. 195 00:10:18,326 --> 00:10:22,204 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 00:10:25,249 --> 00:10:27,585 [loud cheering] 198 00:10:30,713 --> 00:10:31,756 We were young. 199 00:10:31,839 --> 00:10:33,966 We were the new generation. We were the boomers. 200 00:10:34,967 --> 00:10:36,260 I was gonna go down 201 00:10:36,344 --> 00:10:40,473 and try to help him figure out what to do about the economy. 202 00:10:41,474 --> 00:10:45,186 In Focus this evening, the shrinkage in America's middle class. 203 00:10:45,269 --> 00:10:47,730 Even though the economy is now growing, 204 00:10:47,813 --> 00:10:51,692 many of the jobs it is creating pay poverty wages. 205 00:10:52,234 --> 00:10:55,738 [reporter] President Clinton has been promising wages would rise. 206 00:10:56,322 --> 00:10:58,032 But, at the Labor Department, 207 00:10:58,115 --> 00:11:02,828 Secretary Robert Reich sees the number of working poor growing. 208 00:11:03,579 --> 00:11:06,832 More and more of the nation's income and wealth were going to the top. 209 00:11:06,916 --> 00:11:09,835 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 --> 00:11:14,298 The poor were not doing well at all. 212 00:11:14,382 --> 00:11:16,884 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 00:11:21,722 --> 00:11:27,061 and what I got back from people was a lot of the skepticism and cynicism 215 00:11:27,144 --> 00:11:28,729 and the beginnings of the anger 216 00:11:28,813 --> 00:11:32,900 that has really emerged full force in 2016. 217 00:11:32,983 --> 00:11:34,360 It was just beginning then. 218 00:11:39,448 --> 00:11:42,827 [Tim] A pleasure to introduce Secretary Reich to the Show Me state, 219 00:11:42,910 --> 00:11:43,953 and to mid-Missouri. 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 --> 00:11:48,332 I'm... 223 00:11:48,707 --> 00:11:51,460 This started out as a book tour. 224 00:11:51,544 --> 00:11:53,337 You know? I've done a lot of books. 225 00:11:53,421 --> 00:11:55,047 I've written a lot of books. 226 00:11:55,131 --> 00:11:58,592 I've tried to help people understand what's really going on. 227 00:11:58,676 --> 00:12:00,636 I don't want to just go out to book stores. 228 00:12:00,719 --> 00:12:02,763 I really want to talk to people about their lives. 229 00:12:02,847 --> 00:12:03,973 [cow moos loudly] 230 00:12:04,056 --> 00:12:05,015 Yes, that's true! 231 00:12:05,099 --> 00:12:06,016 [laughter] 232 00:12:06,767 --> 00:12:07,726 [Reich] That's great. 233 00:12:07,810 --> 00:12:11,188 My name is Darvin Bentlage and I'm a farmer. 234 00:12:11,814 --> 00:12:12,857 And... 235 00:12:13,649 --> 00:12:16,026 There are other names they use for me, but... 236 00:12:16,902 --> 00:12:19,947 I just mainly go by "farmer" and "cattle man." 237 00:12:22,491 --> 00:12:25,536 The family farm has been around for 80 years. 238 00:12:26,787 --> 00:12:29,748 You're kind of raised into it, you know? 239 00:12:29,832 --> 00:12:33,210 I jumped on my first tractor when I was ten years old. 240 00:12:33,294 --> 00:12:35,129 I could barely reach the pedals. 241 00:12:37,131 --> 00:12:38,632 It's a lot of hard work. 242 00:12:39,258 --> 00:12:43,012 Our margin of profits are way down, you know? 243 00:12:43,095 --> 00:12:47,183 Farm income this year has been predicted to drop 50%. 244 00:12:48,517 --> 00:12:51,979 Well, excuse me. Nothing I buy has dropped 50%. 245 00:12:52,563 --> 00:12:56,108 I don't think anything in the grocery store has dropped 50%. 246 00:12:58,152 --> 00:13:01,071 I have a son who would kind of like to come back on the farm. 247 00:13:03,616 --> 00:13:09,997 There's nothing that I would want more than to sell my home and move down here. 248 00:13:10,080 --> 00:13:12,583 The fiscal part of it is pretty rough. 249 00:13:13,125 --> 00:13:16,754 What kind of profit margins are you pulling in a year? 250 00:13:17,338 --> 00:13:19,256 Oh, the profit margins, yeah. 251 00:13:19,340 --> 00:13:21,133 It varies, but... 252 00:13:21,926 --> 00:13:24,303 The total deal, you know... I make around... 253 00:13:25,095 --> 00:13:25,930 Um... 254 00:13:26,347 --> 00:13:29,141 The year before was like $320,000. 255 00:13:29,558 --> 00:13:31,101 -You spent... -[Darvin] $300. 256 00:13:31,185 --> 00:13:33,854 $300, so, in my mind, 257 00:13:33,938 --> 00:13:35,648 your profit margin... 258 00:13:36,398 --> 00:13:38,817 would have been $20,000. 259 00:13:39,485 --> 00:13:40,444 Correct? 260 00:13:41,529 --> 00:13:42,363 Yeah. 261 00:13:44,823 --> 00:13:47,743 There is a vicious cycle that has set in. 262 00:13:48,702 --> 00:13:50,454 The American economy today 263 00:13:50,538 --> 00:13:53,582 is almost twice as large as it was in 1980. 264 00:13:53,666 --> 00:13:56,585 But the median wage has gone nowhere. 265 00:13:56,669 --> 00:13:58,671 If fact, if anything, most Americans' wages, 266 00:13:58,754 --> 00:14:00,798 adjusted for inflation, have declined. 267 00:14:00,881 --> 00:14:03,801 So where did all the money go? It went upward. 268 00:14:09,765 --> 00:14:13,477 In 2014, corporate profits before taxes 269 00:14:13,561 --> 00:14:16,313 reached their highest share of the total economy 270 00:14:16,397 --> 00:14:18,232 in at least 85 years. 271 00:14:20,025 --> 00:14:23,404 Meanwhile, the percentage of the economy going to people's wages 272 00:14:24,071 --> 00:14:25,573 has dropped dramatically. 273 00:14:29,326 --> 00:14:33,998 Hidden inside the rules of the market, money flows upwards - 274 00:14:34,081 --> 00:14:36,125 out of the pockets of average Americans, 275 00:14:37,126 --> 00:14:40,212 and into the profits of major industries, 276 00:14:40,296 --> 00:14:41,714 executives 277 00:14:41,797 --> 00:14:43,215 and shareholders. 278 00:14:46,552 --> 00:14:49,930 The vicious cycle is that, as income and wealth go to the top, 279 00:14:50,347 --> 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 00:14:55,519 --> 00:14:58,022 because as political power goes to the top, 282 00:14:58,105 --> 00:15:01,233 the top has more and more ability 283 00:15:01,317 --> 00:15:04,778 to influence the rules of the game. 284 00:15:15,080 --> 00:15:19,835 [Reich] I began my political education 285 00:15:20,544 --> 00:15:23,464 when I went to Washington in 1967 286 00:15:23,547 --> 00:15:26,216 as an intern for Robert F. Kennedy. 287 00:15:29,011 --> 00:15:30,930 Being in Washington was thrilling. 288 00:15:32,014 --> 00:15:34,850 People in the bottom 20% were getting ahead. 289 00:15:36,477 --> 00:15:37,603 In 1964, 290 00:15:37,686 --> 00:15:41,190 when our large and growing middle class was the envy of the world, 291 00:15:41,273 --> 00:15:45,569 roughly 77% of Americans said they trusted government 292 00:15:45,653 --> 00:15:46,862 to do the right thing. 293 00:15:47,905 --> 00:15:50,074 That's compared to 20% today. 294 00:15:52,117 --> 00:15:54,495 Washington itself was kind of seedy in those days. 295 00:15:54,578 --> 00:15:57,498 There wasn't much money flowing into Washington. 296 00:15:58,749 --> 00:16:04,296 The business community was just beginning to come to Washington 297 00:16:04,588 --> 00:16:06,173 and set up shop. 298 00:16:06,256 --> 00:16:08,050 It was just... just starting. 299 00:16:11,470 --> 00:16:12,888 In the late 1970s, 300 00:16:12,972 --> 00:16:16,642 I got a job as Director of Policy Planning for the Federal Trade Commission. 301 00:16:19,311 --> 00:16:22,815 While I was there, we came out with a proposed rule 302 00:16:22,898 --> 00:16:26,902 that would ban advertising directed at children, 303 00:16:26,986 --> 00:16:30,114 with regard to unhealthy, sugary products. 304 00:16:30,698 --> 00:16:35,077 The Federal Trade Commission votes today on recommendations by its staff 305 00:16:35,160 --> 00:16:39,498 that would put tight new restrictions on TV commercials aimed at children. 306 00:16:39,873 --> 00:16:42,960 [reporter #2] Advertisers are spending hundreds of thousands of dollars 307 00:16:43,043 --> 00:16:46,296 fighting the consumer groups and the FTC staff proposals. 308 00:16:46,380 --> 00:16:50,217 The makers of sugared cereals, candy, and toys are fighting back. 309 00:16:51,468 --> 00:16:54,346 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 00:17:03,647 --> 00:17:06,358 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 They closed the Federal Trade Commission because of that rule. 316 00:17:17,745 --> 00:17:21,165 [reporter #3] At the Consumer Complaints Office, yesterday's mail was unopened. 317 00:17:21,248 --> 00:17:23,542 Hearings with food companies were suspended. 318 00:17:23,917 --> 00:17:27,046 A laboratory machine that smokes 500 cigarettes a day 319 00:17:27,129 --> 00:17:30,507 to monitor tar and nicotine content of the different brands got a break. 320 00:17:30,591 --> 00:17:31,884 It didn't have to smoke. 321 00:17:33,719 --> 00:17:37,347 [Reich] What I discovered is that big corporations, Wall Street, 322 00:17:37,431 --> 00:17:39,183 very, very wealthy individuals, 323 00:17:39,266 --> 00:17:44,063 they could actually change laws and regulations 324 00:17:44,146 --> 00:17:46,106 to favor them, 325 00:17:46,190 --> 00:17:47,483 and to hurt others... 326 00:17:48,817 --> 00:17:51,070 that that process was almost invisible. 327 00:17:51,153 --> 00:17:55,824 It happened inside the administrative agencies, 328 00:17:55,908 --> 00:17:57,409 inside legislatures. 329 00:17:57,826 --> 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 What I had witnessed had been quietly launched in 1971. 332 00:18:12,132 --> 00:18:13,509 The Chamber of Commerce, 333 00:18:13,592 --> 00:18:16,053 a powerful business lobbying group, 334 00:18:16,136 --> 00:18:18,806 asked a corporate lawyer named Lewis Powell 335 00:18:18,889 --> 00:18:20,224 to write a position paper. 336 00:18:21,350 --> 00:18:23,268 Known as The Powell Memo , 337 00:18:23,352 --> 00:18:27,064 his paper rapidly circulated among national business leaders. 338 00:18:28,482 --> 00:18:31,443 "The American economic system," he said, 339 00:18:31,527 --> 00:18:33,278 "is under broad attack." 340 00:18:34,780 --> 00:18:39,034 Business must learn "the lesson that political power is necessary, 341 00:18:39,118 --> 00:18:42,663 that such power must be assiduously cultivated, 342 00:18:42,955 --> 00:18:44,373 and that when necessary, 343 00:18:44,456 --> 00:18:48,335 it must be used aggressively and with determination, 344 00:18:48,418 --> 00:18:49,837 without embarrassment, 345 00:18:49,920 --> 00:18:51,880 and without reluctance." 346 00:18:54,299 --> 00:18:56,552 His memo tuned into a manifesto 347 00:18:56,635 --> 00:18:59,513 for new business-oriented think tanks, 348 00:18:59,596 --> 00:19:00,889 lobbying groups, 349 00:19:01,515 --> 00:19:02,683 trade associations, 350 00:19:02,766 --> 00:19:04,643 and professional organizations 351 00:19:05,018 --> 00:19:08,564 committed to shaping the government to better meet their needs. 352 00:19:11,483 --> 00:19:14,111 The vicious cycle was in full swing. 353 00:19:25,664 --> 00:19:28,667 [general chatter] 354 00:19:31,628 --> 00:19:33,630 First, let me ask, how do you like to be called? 355 00:19:33,714 --> 00:19:35,048 How should we call you? 356 00:19:35,132 --> 00:19:36,466 -Your Excellency. -Yeah. 357 00:19:36,550 --> 00:19:37,509 [man] Bob. 358 00:19:37,593 --> 00:19:39,011 No, call me Bob. 359 00:19:39,094 --> 00:19:40,762 Can we go around the table? 360 00:19:40,846 --> 00:19:42,514 -Maybe... -...introduce yourselves. 361 00:19:42,598 --> 00:19:44,016 Yes, introduce yourselves. 362 00:19:44,099 --> 00:19:46,351 My name is Woody Cozad. I used to be a lawyer. 363 00:19:46,435 --> 00:19:47,477 Now, I'm a lobbyist. 364 00:19:47,978 --> 00:19:49,062 And, 365 00:19:49,730 --> 00:19:50,856 as one of my... 366 00:19:51,523 --> 00:19:54,026 fellow right-wing friends said to me, I... 367 00:19:54,109 --> 00:19:58,322 I'm like a doctor who specializes in the diseases of the very rich. 368 00:19:58,655 --> 00:19:59,698 And so... 369 00:19:59,781 --> 00:20:00,699 [laughter] 370 00:20:00,782 --> 00:20:03,410 I try to represent people who can pay my bills. 371 00:20:03,493 --> 00:20:07,039 So I'm one of those evil guys manipulating the rules and changing them. 372 00:20:07,122 --> 00:20:09,166 What are you…? Don't be defensive. 373 00:20:09,249 --> 00:20:10,876 [Cozard] I'm not defensive! 374 00:20:10,959 --> 00:20:12,419 I'm very proud of my job. 375 00:20:12,502 --> 00:20:15,005 You're doing a job and a job has to be done. 376 00:20:15,088 --> 00:20:18,342 I'm Crosby Kemper, the Director of the Kansas City Public Library. 377 00:20:18,425 --> 00:20:23,013 And I was a Republican candidate for the state legislature in 1980. 378 00:20:23,096 --> 00:20:26,433 And I referred to myself then as I refer to myself now, as a Libertarian. 379 00:20:27,184 --> 00:20:30,145 I have been a very moderate Republican 380 00:20:30,229 --> 00:20:32,814 and, actually, have helped a few Democrats. 381 00:20:32,898 --> 00:20:33,857 So... 382 00:20:34,483 --> 00:20:36,026 I was happy that Crosby invited me. 383 00:20:36,109 --> 00:20:36,944 Thank you. 384 00:20:37,527 --> 00:20:39,988 You know what I would like to do? If you don't mind... 385 00:20:40,072 --> 00:20:41,073 Please. 386 00:20:42,115 --> 00:20:46,787 I would like to put party labels aside and not talk Democrats and Republicans, 387 00:20:46,870 --> 00:20:48,455 just for a little while. 388 00:20:49,164 --> 00:20:51,541 Because I really want to talk about 389 00:20:51,625 --> 00:20:52,918 how you view... 390 00:20:53,835 --> 00:20:55,712 politics, the economy, your values. 391 00:20:55,796 --> 00:20:57,381 You try... You... 392 00:20:57,839 --> 00:21:02,094 You want to dismiss the argument about government versus the market. 393 00:21:02,177 --> 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 00:21:11,478 --> 00:21:16,441 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 00:21:19,319 --> 00:21:21,113 I was a regulator. 399 00:21:21,613 --> 00:21:23,657 I was at the Federal Trade Commission. 400 00:21:23,740 --> 00:21:25,492 We would come up with simple rules. 401 00:21:25,575 --> 00:21:27,286 And then the lobbyists... 402 00:21:27,369 --> 00:21:28,704 -[man] Right. -...would attack. 403 00:21:28,787 --> 00:21:29,788 They would say, 404 00:21:29,871 --> 00:21:31,540 "You have got to give this little... 405 00:21:31,623 --> 00:21:34,501 Make this exception and this exception and this exception." 406 00:21:34,584 --> 00:21:35,711 And then... 407 00:21:36,837 --> 00:21:39,589 Congress would start calling and they'd say, 408 00:21:39,673 --> 00:21:42,467 "Our business constituents want this exception." 409 00:21:42,551 --> 00:21:44,469 It's not either market or government. 410 00:21:44,553 --> 00:21:46,972 It is power that is misused. 411 00:21:47,055 --> 00:21:48,515 Let's talk about power. 412 00:21:48,598 --> 00:21:53,228 Let's talk about my two clients who started a company 20 years ago 413 00:21:53,812 --> 00:21:55,105 and are now billionaires. 414 00:21:55,188 --> 00:21:56,773 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 00:22:02,237 --> 00:22:05,991 it's a high-tech company, with value added, generous benefits. 418 00:22:06,074 --> 00:22:07,701 And yet they're held up 419 00:22:07,784 --> 00:22:11,163 to scorn, hatred, ridicule and contempt 420 00:22:11,246 --> 00:22:13,915 because they've added to income inequality, 421 00:22:13,999 --> 00:22:16,626 added to the concentration of wealth, 422 00:22:16,710 --> 00:22:18,420 added to disparity... 423 00:22:18,503 --> 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 --> 00:22:28,221 Let's agree that there should not be any scapegoats, 426 00:22:28,305 --> 00:22:29,681 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 --> 00:22:33,935 I mean, I actually really like you. 429 00:22:34,019 --> 00:22:35,562 And I didn't expect to. 430 00:22:35,645 --> 00:22:38,899 But you have vilified everything I've worked for all my life. 431 00:22:39,524 --> 00:22:43,111 I've had four very successful small businesses. 432 00:22:43,195 --> 00:22:46,114 I grew up poor in Springfield, Missouri. 433 00:22:47,115 --> 00:22:49,868 Student loans, worked my ass off, 434 00:22:50,786 --> 00:22:51,620 employed... 435 00:22:51,703 --> 00:22:53,538 I probably created 200 jobs. 436 00:22:54,247 --> 00:22:56,958 OK, it's not a lot. I'm not the Koch brothers. 437 00:22:57,042 --> 00:22:58,585 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 00:23:08,428 --> 00:23:10,680 My theory is work. Take care of yourself. 440 00:23:10,764 --> 00:23:14,976 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 00:23:27,572 --> 00:23:29,366 My husband and I pinch each other every day 443 00:23:29,449 --> 00:23:31,827 that we get to live in this lovely community. 444 00:23:31,910 --> 00:23:33,954 We're able to put his kids through college. 445 00:23:34,746 --> 00:23:38,041 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 Today, it's hard for people to really make ends meet. 449 00:23:53,014 --> 00:23:56,434 I don't feel like being 20 today 450 00:23:56,518 --> 00:24:00,230 is gonna be as easy as it was when I was 20. 451 00:24:03,441 --> 00:24:05,152 It's just a different time. 452 00:24:05,235 --> 00:24:07,195 It's a very, very different time. 453 00:24:14,035 --> 00:24:18,081 [Guadalupe] I've been working at McDonald's for four years. 454 00:24:20,333 --> 00:24:22,878 I work at the drive-through window. 455 00:24:22,961 --> 00:24:24,713 I get paid $12.50... 456 00:24:24,796 --> 00:24:26,339 $12.55 per hour. 457 00:24:27,757 --> 00:24:32,345 I make about $1,200 a month. 458 00:24:33,138 --> 00:24:35,432 $900 goes straight to rent. 459 00:24:36,308 --> 00:24:39,603 And I have to pay for gas 460 00:24:40,228 --> 00:24:42,689 and then my phone bill. 461 00:24:42,772 --> 00:24:44,357 I end up with nothing. 462 00:24:45,025 --> 00:24:47,485 We barely, barely make it. 463 00:24:49,279 --> 00:24:50,739 [speaking Spanish] 464 00:24:51,656 --> 00:24:54,451 [Guadalupe] Those big corporations can pay us more. 465 00:24:54,534 --> 00:24:55,702 They have the money. 466 00:24:56,703 --> 00:24:58,955 Me, as a cashier at my job, 467 00:24:59,039 --> 00:25:01,666 I know how much money goes in there, OK? 468 00:25:02,417 --> 00:25:05,253 And that is only in a few hours. 469 00:25:05,795 --> 00:25:07,464 They're open 24/7. 470 00:25:09,174 --> 00:25:12,969 I sometimes have to go for the payday loan 471 00:25:13,053 --> 00:25:15,847 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 00:25:19,142 --> 00:25:21,519 and try to make ends meet. 474 00:25:25,982 --> 00:25:27,150 [Reich] Nobody… 475 00:25:27,234 --> 00:25:31,112 Nobody should be working full-time and not making it. 476 00:25:33,573 --> 00:25:37,410 Nobody in our society, the richest... 477 00:25:39,537 --> 00:25:42,999 country, the richest nation in the history of the world... 478 00:25:45,293 --> 00:25:46,836 should feel as... 479 00:25:47,504 --> 00:25:52,175 frightened and anxious and as insecure as so many people do today. 480 00:26:12,404 --> 00:26:16,074 The reality is that our system can reflect our values. 481 00:26:18,660 --> 00:26:20,829 Capitalism is what we make of it. 482 00:26:23,540 --> 00:26:26,126 Either the rules are going to expand opportunity 483 00:26:26,209 --> 00:26:28,586 and widen the circle of prosperity, 484 00:26:28,670 --> 00:26:30,505 or they're going to narrow opportunity. 485 00:26:36,636 --> 00:26:39,514 [MC] The Secretary of Labor, Robert Reich. 486 00:26:40,473 --> 00:26:43,685 The Secretary of the Treasury, Robert Rubin. 487 00:26:43,768 --> 00:26:46,479 And the President of the United States. 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 00:26:59,200 --> 00:27:00,869 have a good chance to make our case, 492 00:27:00,952 --> 00:27:02,829 but we'd lose a lot of our... 493 00:27:02,912 --> 00:27:04,122 a lot of the fights. 494 00:27:05,206 --> 00:27:08,543 What I do know is that it was a tough slog. 495 00:27:08,626 --> 00:27:10,628 [Clinton] ...to make economic policy... 496 00:27:10,712 --> 00:27:13,590 I was fighting very hard for maintaining 497 00:27:13,673 --> 00:27:15,884 the original goals of that campaign. 498 00:27:17,635 --> 00:27:20,638 We wanted to do away with some of the tax subsidies 499 00:27:20,722 --> 00:27:23,183 the federal government was giving corporations, 500 00:27:23,266 --> 00:27:25,602 that left average people picking up the tab. 501 00:27:25,685 --> 00:27:27,479 [applause] 502 00:27:27,562 --> 00:27:31,900 The president had pledged to end the tax break for CEO pay. 503 00:27:33,860 --> 00:27:38,156 The average CEO at a major American corporation, 504 00:27:38,531 --> 00:27:40,867 according to a recent Senate hearing, 505 00:27:41,409 --> 00:27:45,205 is paid about 100 times as much as the average worker. 506 00:27:45,830 --> 00:27:48,083 And our government today rewards that excess 507 00:27:48,166 --> 00:27:51,252 with a tax break for executive pay, no matter how high it is. 508 00:27:51,628 --> 00:27:52,712 That's wrong. 509 00:27:52,796 --> 00:27:56,341 If companies want to overpay executives and underinvest in their future, 510 00:27:56,424 --> 00:27:57,675 that's their business. 511 00:27:57,759 --> 00:28:00,595 But they shouldn't get special treatment from Uncle Sam. 512 00:28:00,678 --> 00:28:02,555 [applause] 513 00:28:04,474 --> 00:28:08,061 [Reich] There were voices, particularly in the Treasury, 514 00:28:08,144 --> 00:28:10,438 who wanted a very different rule. 515 00:28:12,023 --> 00:28:15,693 Bob Rubin had been the CEO of a big Wall Street bank, 516 00:28:15,777 --> 00:28:18,279 and then became the Secretary of the Treasury. 517 00:28:18,947 --> 00:28:21,032 He viewed the economy 518 00:28:21,116 --> 00:28:24,536 and viewed America through the eyes of Wall Street. 519 00:28:25,870 --> 00:28:27,664 And I remember the meeting with Rubin. 520 00:28:27,747 --> 00:28:29,749 He said, "Well, why don't we make it that 521 00:28:29,833 --> 00:28:33,294 you can't deduct CEO pay in excess of $1 million, 522 00:28:33,378 --> 00:28:36,464 unless it's related to corporate performance?" 523 00:28:37,465 --> 00:28:38,883 I said, "Wait a minute. Wait. Wait. 524 00:28:38,967 --> 00:28:41,094 This has nothing to do with corporate performance. 525 00:28:41,177 --> 00:28:45,181 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 00:28:52,605 --> 00:28:53,982 Well, I lost that one. 528 00:28:54,357 --> 00:28:56,025 And because of this tax loophole, 529 00:28:56,109 --> 00:28:59,988 CEO pay skyrocketed in the form of stock bonuses. 530 00:29:01,990 --> 00:29:03,533 And this subsidy for executive pay 531 00:29:03,616 --> 00:29:07,537 was just one example of thousands of subsidies and tax breaks 532 00:29:07,620 --> 00:29:09,456 that go to corporations. 533 00:29:12,417 --> 00:29:16,296 The top five oil companies receive a combined $4 billion 534 00:29:16,379 --> 00:29:17,547 in tax breaks each year. 535 00:29:22,510 --> 00:29:24,971 Google receives $632 million 536 00:29:25,054 --> 00:29:26,598 in government subsidies 537 00:29:26,681 --> 00:29:28,099 to build data centers. 538 00:29:32,145 --> 00:29:33,021 And the United States 539 00:29:33,104 --> 00:29:34,230 Department of Agriculture 540 00:29:34,314 --> 00:29:36,733 spends $20 billion every year 541 00:29:36,816 --> 00:29:38,777 on subsidies that go mostly 542 00:29:38,860 --> 00:29:40,195 to the largest producers. 543 00:29:45,158 --> 00:29:47,368 These subsidies are costing taxpayers 544 00:29:47,452 --> 00:29:50,580 tens of billions of dollars every year. 545 00:29:50,663 --> 00:29:53,082 Some estimates put it at over 100 billion. 546 00:29:54,626 --> 00:29:58,338 That's more than the cost to fund the entire Department of Education. 547 00:30:01,466 --> 00:30:05,136 We have a huge system now of corporate welfare - 548 00:30:05,553 --> 00:30:07,722 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 00:30:11,976 --> 00:30:14,479 that are there because individual corporations 551 00:30:14,562 --> 00:30:17,357 or specific industries have lobbied to get them. 552 00:30:18,107 --> 00:30:19,859 It's in the tax code. 553 00:30:19,943 --> 00:30:22,028 It's in appropriation bills. 554 00:30:22,570 --> 00:30:24,322 It's in our trade laws. 555 00:30:25,114 --> 00:30:28,368 Wherever you look, you find corporate welfare. 556 00:30:31,704 --> 00:30:34,123 I began to feel, in myself, some anger... 557 00:30:35,208 --> 00:30:39,003 towards people I knew in the administration 558 00:30:39,087 --> 00:30:40,380 with a lot of power. 559 00:30:41,130 --> 00:30:43,800 Not anger at them, personally, because they were nice people. 560 00:30:43,883 --> 00:30:44,717 I enjoyed them. 561 00:30:44,801 --> 00:30:47,095 But anger at not only what they represented, 562 00:30:47,178 --> 00:30:49,097 but the narrowness of their view. 563 00:30:50,723 --> 00:30:53,852 It was as if Washington was an island 564 00:30:53,935 --> 00:30:57,522 that was separate from the rest of the country. 565 00:30:58,106 --> 00:31:01,150 The voices of average citizens 566 00:31:01,693 --> 00:31:02,610 had disappeared - 567 00:31:02,694 --> 00:31:03,820 all but disappeared. 568 00:31:06,531 --> 00:31:09,158 Another member of the Clinton administration announced today 569 00:31:09,242 --> 00:31:11,202 that he's dropping out of the game entirely. 570 00:31:11,619 --> 00:31:13,496 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 00:31:16,791 --> 00:31:20,211 is returning to Massachusetts to spend more time with his family. 573 00:31:27,302 --> 00:31:32,181 My friends, we are on the way to becoming a two-tiered society... 574 00:31:33,182 --> 00:31:34,976 composed of a few winners... 575 00:31:35,894 --> 00:31:38,646 and a larger group of Americans left behind, 576 00:31:39,147 --> 00:31:42,108 whose anger and whose disillusionment 577 00:31:42,191 --> 00:31:44,569 is easily manipulated. 578 00:31:46,029 --> 00:31:47,405 Once unbottled, 579 00:31:48,281 --> 00:31:49,699 mass resentment 580 00:31:50,116 --> 00:31:53,536 can poison the very fabric of society, 581 00:31:53,620 --> 00:31:55,788 the moral integrity of a society, 582 00:31:56,247 --> 00:31:58,124 replacing ambition with envy, 583 00:31:58,207 --> 00:32:00,084 replacing tolerance with hate. 584 00:32:00,752 --> 00:32:03,254 Today, the targets of that rage 585 00:32:03,338 --> 00:32:04,672 are immigrants, 586 00:32:05,340 --> 00:32:06,716 and welfare mothers, 587 00:32:07,425 --> 00:32:08,968 and government officials, 588 00:32:09,636 --> 00:32:10,720 and gays, 589 00:32:11,262 --> 00:32:14,140 and an ill-defined counterculture. 590 00:32:15,767 --> 00:32:19,145 But as the middle class continues to erode, 591 00:32:20,021 --> 00:32:23,232 who will be the targets tomorrow? 592 00:32:43,920 --> 00:32:48,466 [Reich] You can see the cumulative effect of all of this over time. 593 00:32:51,427 --> 00:32:53,846 Wealth creating political power, 594 00:32:54,514 --> 00:32:58,142 creating changes in the rules that enhance wealth. 595 00:33:00,728 --> 00:33:04,148 It's not sustainable. It's getting worse and worse and worse. 596 00:33:08,403 --> 00:33:11,698 [Brian Williams] Big trouble for millions of American homeowners, 597 00:33:11,781 --> 00:33:14,158 as foreclosures across the country 598 00:33:14,242 --> 00:33:16,953 are up a staggering 87%. 599 00:33:17,578 --> 00:33:20,707 The number of Americans either behind on their mortgage payments 600 00:33:20,790 --> 00:33:21,624 or in foreclosure 601 00:33:22,125 --> 00:33:24,585 rose to record levels in the third quarter. 602 00:33:24,961 --> 00:33:26,838 Those mortgages made to borrowers 603 00:33:26,921 --> 00:33:28,339 with poor credit histories 604 00:33:28,423 --> 00:33:30,508 are called sub-prime loans. 605 00:33:31,050 --> 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 00:33:38,474 --> 00:33:40,560 We are briefly interrupting regular programming 608 00:33:40,643 --> 00:33:43,688 with the latest on a wild day today on Wall Street 609 00:33:43,771 --> 00:33:45,982 in which the stock market officially crashed. 610 00:33:46,816 --> 00:33:50,361 [newscaster] Now, three of the top five Wall Street institutions are gone, 611 00:33:51,070 --> 00:33:54,365 leaving many to wonder whether Americans can trust the system 612 00:33:54,449 --> 00:33:56,117 to keep their money safe. 613 00:33:58,119 --> 00:34:00,246 So, what happened in the 2000s? 614 00:34:00,329 --> 00:34:02,040 Well, Wall Street went amok. 615 00:34:02,123 --> 00:34:03,875 I mean, completely crazy. 616 00:34:03,958 --> 00:34:07,253 They're gambling with people's deposits. 617 00:34:07,336 --> 00:34:09,714 They're... They're gambling with the entire economy. 618 00:34:10,840 --> 00:34:13,593 These are not aberrations. This is not an accident. 619 00:34:19,474 --> 00:34:21,350 Since the Reagan administration, 620 00:34:21,434 --> 00:34:25,563 there's been a systematic changing of the rules of our financial system - 621 00:34:26,189 --> 00:34:28,983 always billed as deregulation 622 00:34:29,067 --> 00:34:31,694 that would get government out of our free market. 623 00:34:32,779 --> 00:34:36,282 Government, with its high taxes, excessive spending, 624 00:34:36,365 --> 00:34:37,658 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 --> 00:34:45,541 [Reich] Then in 1998, 627 00:34:45,917 --> 00:34:49,420 Wall Street devised new complex financial instruments 628 00:34:49,504 --> 00:34:51,172 to maximize their profits, 629 00:34:51,255 --> 00:34:52,840 known as "derivatives". 630 00:34:54,133 --> 00:34:56,928 Despite warnings, these went unregulated. 631 00:34:58,012 --> 00:34:59,972 [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] And then, in 1999, 635 00:35:11,609 --> 00:35:14,403 Clinton did away with the Glass-Steagall Act. 636 00:35:16,739 --> 00:35:19,242 We're here today to repeal Glass-Steagall 637 00:35:19,325 --> 00:35:22,537 because we've learned that government is not the answer. 638 00:35:23,329 --> 00:35:27,041 We have learned that freedom and competition are the answers. 639 00:35:28,960 --> 00:35:31,921 [Reich] The Glass-Steagall Act was a 1930s law 640 00:35:32,004 --> 00:35:34,382 designed to protect people's savings 641 00:35:34,465 --> 00:35:36,968 from being used by Wall Street speculators. 642 00:35:37,051 --> 00:35:39,512 But now, with no laws in place 643 00:35:39,595 --> 00:35:43,558 to keep risky investment banks from merging with commercial banks, 644 00:35:43,641 --> 00:35:45,560 or controlled derivatives, 645 00:35:45,643 --> 00:35:49,397 we ushered in too-big-to-fail mega banks, 646 00:35:49,480 --> 00:35:51,649 that led to the stock market crash. 647 00:35:51,732 --> 00:35:53,234 [camera shutters clicking] 648 00:35:53,317 --> 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 00:35:57,905 --> 00:35:59,699 You don't have regulation or deregulation. 651 00:35:59,782 --> 00:36:01,659 The question is, what regulation do you have? 652 00:36:01,742 --> 00:36:04,912 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 00:36:08,082 --> 00:36:10,001 It's called "bailouts". 655 00:36:10,084 --> 00:36:12,253 Good evening and even congratulations. 656 00:36:12,336 --> 00:36:15,631 You are now the proud owner of a massive insurance company. 657 00:36:15,715 --> 00:36:18,342 American taxpayers woke up this morning 658 00:36:18,426 --> 00:36:22,471 to learn their money makes up most of a bailout package 659 00:36:22,555 --> 00:36:24,807 the Federal Reserve slammed together 660 00:36:24,891 --> 00:36:29,061 to save a huge insurance conglomerate called "AIG". 661 00:36:29,145 --> 00:36:31,480 [newscaster #2] The rescue of Bear Stearns, Fannie Mae, 662 00:36:31,564 --> 00:36:33,316 Freddie Mac and AIG 663 00:36:33,399 --> 00:36:36,944 puts an extra $314 billion of taxpayer money at risk. 664 00:36:37,028 --> 00:36:40,531 [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 00:36:44,368 --> 00:36:47,288 This is a big package, because it was a big problem. 667 00:36:50,208 --> 00:36:52,668 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 00:36:54,545 --> 00:36:57,673 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 00:37:02,970 --> 00:37:06,641 or is government going to be involved in dealing with the consequences, 673 00:37:06,724 --> 00:37:10,061 from homeowners and everybody else sweeping up the mess? 674 00:37:10,144 --> 00:37:12,605 In other words, it's not government versus no government. 675 00:37:12,688 --> 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 received my diagnosis 678 00:37:31,165 --> 00:37:33,542 in January of this year. 679 00:37:34,794 --> 00:37:39,674 After receiving an infection abroad, I came home and was treated for that. 680 00:37:39,757 --> 00:37:42,969 And while in the hospital, they discovered that I had cancer. 681 00:37:48,766 --> 00:37:51,727 I have a couple of different medications for nausea. 682 00:37:51,811 --> 00:37:55,815 There are two specific ones that I take on days two and three after chemo. 683 00:37:55,898 --> 00:38:00,736 I get a steroid when I'm in the hospital to get me through the treatment, 684 00:38:01,362 --> 00:38:02,446 an antibiotic, 685 00:38:03,281 --> 00:38:06,659 and another that helps me sleep, 686 00:38:06,742 --> 00:38:09,495 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 Even with the insurance provider that I have, 689 00:38:19,505 --> 00:38:23,884 I was informed that they no longer cover chemo drugs fully. 690 00:38:25,469 --> 00:38:28,264 And so we were told by a medical social worker 691 00:38:28,347 --> 00:38:32,351 that we could potentially receive a bill for thousands of dollars. 692 00:38:36,063 --> 00:38:39,608 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 00:38:45,948 --> 00:38:49,535 So, for me, that's about three months of income... 696 00:38:49,618 --> 00:38:50,995 [chuckles] 697 00:38:51,078 --> 00:38:52,288 just for... 698 00:38:52,371 --> 00:38:53,789 Just for one round of treatment. 699 00:38:56,542 --> 00:39:00,546 What is the alternative to receiving your chemotherapy drugs? 700 00:39:00,629 --> 00:39:01,505 There isn't one. 701 00:39:01,589 --> 00:39:04,633 So whatever the cost is, you have to pay it. 702 00:39:09,221 --> 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 00:39:14,518 --> 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 00:39:25,112 --> 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 --> 00:39:37,708 And it also gives them huge political power. 710 00:39:38,542 --> 00:39:41,921 And that political power is being exercised in all kinds of ways 711 00:39:42,004 --> 00:39:47,134 to tilt the market in their direction. 712 00:39:49,762 --> 00:39:51,555 In June of 2003, 713 00:39:51,639 --> 00:39:55,643 the Medicare Modernization Act came up for vote in the House. 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 00:40:01,315 --> 00:40:03,692 [Reich] It was a bill that was ostensibly intended 717 00:40:03,776 --> 00:40:05,903 to help seniors pay for prescription drugs. 718 00:40:06,904 --> 00:40:11,283 But it would also bar the government from interfering with negotiations 719 00:40:11,367 --> 00:40:13,661 between manufacturers and pharmacies 720 00:40:13,744 --> 00:40:16,247 and prescription drug plan sponsors. 721 00:40:18,165 --> 00:40:19,333 In other words, 722 00:40:19,417 --> 00:40:23,462 it would prevent the government, with its huge purchasing power, 723 00:40:23,963 --> 00:40:26,924 from negotiating cheaper prices for drugs. 724 00:40:28,759 --> 00:40:30,302 So, as new drugs hit the market, 725 00:40:31,137 --> 00:40:32,972 patients would have no choice 726 00:40:33,055 --> 00:40:36,183 but to pay the costs set by the drug companies. 727 00:40:39,103 --> 00:40:41,230 The bill was over a thousand pages. 728 00:40:41,313 --> 00:40:45,025 And it was rushed to a vote in the House at 3:00 a.m. the next morning. 729 00:40:46,694 --> 00:40:48,821 We had leaders going around 730 00:40:48,904 --> 00:40:52,616 and gathering around individuals and trying to twist their arms 731 00:40:52,700 --> 00:40:54,034 to get them to change their vote. 732 00:40:55,161 --> 00:40:57,663 [Burton] I think a lot of the shenanigans that were going on, 733 00:40:57,746 --> 00:41:00,332 they didn't want on national TV in prime time. 734 00:41:01,500 --> 00:41:04,712 On this vote, the ayes are 220, and the nays are 215. 735 00:41:04,795 --> 00:41:07,089 -The conference report is agreed to. -[loud cheering] 736 00:41:07,173 --> 00:41:10,509 Without objection, the motion to reconsider is laid upon the table. 737 00:41:11,719 --> 00:41:13,304 [Reich] This is a piece of legislation 738 00:41:13,387 --> 00:41:16,390 that's hailed as a move toward a free market. 739 00:41:17,892 --> 00:41:20,644 But it's actually a government regulation 740 00:41:21,103 --> 00:41:23,772 that benefits only a few at the top. 741 00:41:28,068 --> 00:41:30,613 Similar manipulations of the rules of our economy 742 00:41:30,696 --> 00:41:33,449 are happening across our major industries. 743 00:41:34,617 --> 00:41:36,660 Americans pay more for Internet service 744 00:41:36,744 --> 00:41:39,747 than citizens of any other industrialized nation, 745 00:41:40,331 --> 00:41:42,458 and have some of the slowest speeds. 746 00:41:43,417 --> 00:41:46,337 Because cable companies have enough political power 747 00:41:46,420 --> 00:41:48,172 to stifle competition. 748 00:41:50,633 --> 00:41:52,635 We're paying more for airline tickets, 749 00:41:53,260 --> 00:41:57,014 because airlines have merged into just four major carriers 750 00:41:57,097 --> 00:41:59,391 that barely have to compete with each other. 751 00:42:00,684 --> 00:42:04,813 We pay more for health insurance as health insurers consolidate. 752 00:42:06,482 --> 00:42:10,402 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 --> 00:42:21,163 How do these industries manage to get rules that benefit them? 756 00:42:21,956 --> 00:42:23,082 It's no mystery. 757 00:42:24,542 --> 00:42:28,295 Campaign contributions buy access to government officials. 758 00:42:28,379 --> 00:42:30,589 [sound of crowd cheering] 759 00:42:31,173 --> 00:42:36,262 Well-funded public relations firms, think tanks and research institutes 760 00:42:36,345 --> 00:42:38,597 produce reports to promote those views 761 00:42:38,681 --> 00:42:41,767 and sometimes even draft the laws they want passed. 762 00:42:44,478 --> 00:42:47,273 The tunes of lawyers argue on their behalf 763 00:42:47,356 --> 00:42:50,609 in courts and regulatory proceedings in Washington. 764 00:42:52,278 --> 00:42:54,321 Finally, there's the revolving door. 765 00:42:54,780 --> 00:42:56,323 In the 1970s, 766 00:42:56,407 --> 00:42:59,285 about 3% of outgoing members of Congress 767 00:42:59,368 --> 00:43:00,327 became lobbyists. 768 00:43:00,869 --> 00:43:01,787 In recent years, 769 00:43:01,870 --> 00:43:05,040 42% of retiring representatives 770 00:43:05,124 --> 00:43:07,835 and half of all retiring senators 771 00:43:07,918 --> 00:43:09,295 have turned to lobbying. 772 00:43:13,757 --> 00:43:16,385 Lobbying has been going on since America's founding. 773 00:43:17,136 --> 00:43:20,347 What has changed is the magnitude of corporate lobbying 774 00:43:20,431 --> 00:43:22,474 versus any other interests. 775 00:43:23,934 --> 00:43:25,853 It's gone from a cottage industry 776 00:43:25,936 --> 00:43:28,939 to an influence industrial complex. 777 00:43:30,316 --> 00:43:31,191 Today, 778 00:43:31,275 --> 00:43:33,944 corporate interests spend $34 779 00:43:34,028 --> 00:43:37,072 for every $1 dollar spent by unions 780 00:43:37,156 --> 00:43:39,867 and all public interest groups combined. 781 00:43:41,619 --> 00:43:42,786 In 2016, 782 00:43:42,870 --> 00:43:48,000 they spent a total of $3.15 billion on lobbying. 783 00:43:49,293 --> 00:43:52,379 That's the equivalent of $5.9 million 784 00:43:52,463 --> 00:43:54,006 per member of Congress. 785 00:43:57,551 --> 00:43:59,845 [engine whirring] 786 00:44:01,472 --> 00:44:02,931 [Darvin] I'm kind of independent. 787 00:44:03,932 --> 00:44:06,518 At times, I see both parties... 788 00:44:07,603 --> 00:44:10,022 doing some stuff that I don't think... 789 00:44:10,689 --> 00:44:12,733 that's what they were elected to do. 790 00:44:14,568 --> 00:44:18,072 They don't care about the promises they made to the people. 791 00:44:18,781 --> 00:44:21,867 They care about the promises they made to their backers. 792 00:44:22,242 --> 00:44:23,452 They give them the money. 793 00:44:24,203 --> 00:44:25,329 Most of us out here... 794 00:44:25,412 --> 00:44:28,832 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 --> 00:44:31,835 I'll vote for you. 797 00:44:31,919 --> 00:44:34,004 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 00:44:39,843 --> 00:44:41,428 Their money is their voice. 800 00:44:43,263 --> 00:44:45,849 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 00:44:48,727 --> 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 --> 00:44:55,275 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] Do you feel that you are truly represented in Washington? 807 00:45:05,035 --> 00:45:08,080 Do you feel that this country is headed in the right direction? 808 00:45:08,163 --> 00:45:09,039 No one does. 809 00:45:09,623 --> 00:45:11,458 That's why I'm running for Congress. 810 00:45:11,542 --> 00:45:12,876 My name is Dave Brat 811 00:45:12,960 --> 00:45:15,462 and I'm a lifelong Republican and conservative. 812 00:45:15,546 --> 00:45:19,049 I'm ready to take economics and ethics to Washington. 813 00:45:20,676 --> 00:45:23,178 -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 00:45:24,888 --> 00:45:27,057 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 00:45:31,186 --> 00:45:34,022 -No, it's not. Pleasure to meet you. -It's great to meet you, too. 818 00:45:34,106 --> 00:45:36,650 -I have a lot to talk to you about. -Great. 819 00:45:36,733 --> 00:45:38,694 The Conservative Review... 820 00:45:39,653 --> 00:45:40,946 has given you an award... 821 00:45:41,905 --> 00:45:46,034 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 00:45:49,329 --> 00:45:50,330 Yep. 824 00:45:50,414 --> 00:45:53,167 -You use the term "crony capitalism"... -Yeah. Yep. 825 00:45:53,250 --> 00:45:55,669 What do you mean by "crony capitalism"? 826 00:45:55,752 --> 00:45:58,380 The big folks get together, no matter what industry, 827 00:45:58,464 --> 00:46:01,049 protect their turf, at the expense of the small guy. 828 00:46:01,133 --> 00:46:04,928 The government's job is to make sure that doesn't happen. 829 00:46:05,012 --> 00:46:07,347 Instead, the government's job has turned into, 830 00:46:07,431 --> 00:46:08,807 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 00:46:11,643 --> 00:46:13,645 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 --> 00:46:18,692 I do think it's coming. People-- 836 00:46:18,775 --> 00:46:21,487 The intuition right now is clear. Something is wrong. 837 00:46:21,987 --> 00:46:23,947 All over the country. Right, left, everybody. 838 00:46:24,031 --> 00:46:25,282 Something is way off. 839 00:46:25,365 --> 00:46:30,913 The old assumption has been that division is Democrat versus Republican. 840 00:46:30,996 --> 00:46:31,955 That's fading. 841 00:46:32,039 --> 00:46:33,707 But what we are beginning to see is that 842 00:46:33,790 --> 00:46:37,628 it's actually anti-establishment versus establishment. 843 00:46:37,711 --> 00:46:38,545 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 --> 00:46:44,426 versus the crony capitalists. 846 00:46:44,885 --> 00:46:47,179 Democrats, Republicans, conservatives, liberals... 847 00:46:47,262 --> 00:46:49,264 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 00:46:52,267 --> 00:46:53,101 It's fine with me. 850 00:46:53,185 --> 00:46:54,436 You're at a deeper level. 851 00:46:54,520 --> 00:46:57,147 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 00:46:58,690 --> 00:47:00,150 - You used to use my book? -Yeah. 854 00:47:00,234 --> 00:47:01,944 -I used to-- -Can we just make-- 855 00:47:02,027 --> 00:47:04,238 -I have a book out, too. -Can we get that again? 856 00:47:06,031 --> 00:47:07,824 Congressman, what do you think of the title? 857 00:47:08,450 --> 00:47:10,869 Yeah, it surprised me a bit coming from you, 858 00:47:10,953 --> 00:47:12,204 but in a pleasant way. 859 00:47:12,287 --> 00:47:15,207 I think you and I are united. We could do this in the right way. 860 00:47:15,290 --> 00:47:17,000 Ethics and capitalism together, 861 00:47:17,084 --> 00:47:18,210 and we'll save the country. 862 00:47:18,293 --> 00:47:20,337 -Congressman, thank you. -Thank you very much. 863 00:47:27,261 --> 00:47:31,640 [Reich] Everything fundamentally comes down to American democracy. 864 00:47:33,183 --> 00:47:34,851 Is it working for most people? 865 00:47:36,520 --> 00:47:39,022 Or is it working for a very small number? 866 00:47:43,527 --> 00:47:46,697 Researchers at Princeton and Northwestern University 867 00:47:46,780 --> 00:47:50,242 wanted to find out how much political power 868 00:47:50,325 --> 00:47:51,910 ordinary citizens have. 869 00:47:54,037 --> 00:47:55,831 They examined a 20-year period, 870 00:47:55,914 --> 00:47:58,458 from 1982 to 2002. 871 00:48:00,294 --> 00:48:04,506 They first discovered that if large corporations and wealthy individuals, 872 00:48:04,590 --> 00:48:06,675 regardless of political party, 873 00:48:06,758 --> 00:48:08,385 want a law passed, 874 00:48:08,468 --> 00:48:11,638 there's nearly a 60% chance it will be passed. 875 00:48:12,848 --> 00:48:14,975 And if they don't want a certain law, 876 00:48:15,058 --> 00:48:16,476 it doesn't pass. 877 00:48:18,604 --> 00:48:20,647 Then they looked at everyday voters. 878 00:48:21,815 --> 00:48:24,318 Issues that almost no one supports 879 00:48:24,401 --> 00:48:26,820 having 30% chance of becoming law. 880 00:48:28,238 --> 00:48:30,866 Issues that almost everyone supports 881 00:48:30,949 --> 00:48:34,244 also have a 30% chance of becoming law. 882 00:48:36,622 --> 00:48:38,457 They concluded, in their own words.... 883 00:48:39,499 --> 00:48:42,252 "The preferences of the average American 884 00:48:42,961 --> 00:48:45,255 appear to have only a miniscule - 885 00:48:46,006 --> 00:48:46,965 near zero - 886 00:48:47,049 --> 00:48:52,095 statistically non-significant impact upon public policy." 887 00:49:03,523 --> 00:49:06,568 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 00:49:09,821 --> 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 Over the last 50 years, 892 00:49:27,881 --> 00:49:31,093 Washington has become an Emerald City. 893 00:49:31,885 --> 00:49:33,303 It's capital money. 894 00:49:33,387 --> 00:49:36,640 Money that is there for only one purpose, 895 00:49:36,723 --> 00:49:38,975 and that is to influence outcomes. 896 00:49:55,158 --> 00:49:56,827 It's apparent to me 897 00:49:57,369 --> 00:49:59,329 that certain judges are alleging 898 00:49:59,413 --> 00:50:04,251 that somehow corporations have the same rights as citizens. 899 00:50:04,334 --> 00:50:05,877 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 00:50:09,631 --> 00:50:10,882 for nearly a century, 902 00:50:10,966 --> 00:50:14,219 and ruled that corporations can spend freely now 903 00:50:14,302 --> 00:50:15,804 on political campaigns. 904 00:50:15,887 --> 00:50:17,514 What's the point in individual people 905 00:50:17,597 --> 00:50:20,016 trying to influence politics with their donations 906 00:50:20,100 --> 00:50:22,894 if Exxon or some other company 907 00:50:22,978 --> 00:50:27,023 can quite literally match, and therefore, cancel out, 908 00:50:27,107 --> 00:50:30,944 the combined donations of every single individual donor in the nation? 909 00:50:31,027 --> 00:50:33,864 The cacophony now... 910 00:50:34,197 --> 00:50:35,782 of special interests... 911 00:50:36,950 --> 00:50:37,784 with... 912 00:50:38,076 --> 00:50:38,910 with... 913 00:50:39,578 --> 00:50:42,706 megaphones larger than you've ever seen in your life, 914 00:50:43,373 --> 00:50:44,708 will drown out... 915 00:50:45,500 --> 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 00:50:54,926 --> 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 --> 00:51:00,265 It won't be Democrats. 921 00:51:00,348 --> 00:51:02,642 It will be corporate America. 922 00:51:16,907 --> 00:51:19,618 [crowd chanting] Whose streets? Our streets! 923 00:51:19,701 --> 00:51:21,578 Whose streets? Our streets! 924 00:51:21,661 --> 00:51:23,038 Whose streets? Our streets! 925 00:51:23,121 --> 00:51:25,207 Whose streets? Our streets! 926 00:51:26,249 --> 00:51:28,543 [reporter #4] There was a giant show of support 927 00:51:28,627 --> 00:51:31,505 for the "Occupy Wall Street" movement on Wednesday. 928 00:51:31,588 --> 00:51:36,635 Approximately 10,000 people marched through lower Manhattan. 929 00:51:36,718 --> 00:51:38,762 [chanting] We got sold out! 930 00:51:38,845 --> 00:51:39,679 The truth is, 931 00:51:39,763 --> 00:51:41,765 many of the reasons they're hitting the streets 932 00:51:41,848 --> 00:51:45,060 are similar to the reasons the Tea Partiers began their protest: 933 00:51:45,143 --> 00:51:47,938 crony capitalism, bailouts to big business. 934 00:51:48,021 --> 00:51:51,399 [newscaster #3] Washington should listen to their message because it is similar 935 00:51:51,483 --> 00:51:52,734 to the Tea Party's message. 936 00:51:52,818 --> 00:51:55,403 That is crony capitalism needs to stop. 937 00:51:55,487 --> 00:51:57,364 [chanting] We have a voice! 938 00:51:57,447 --> 00:51:59,366 We have a voice! 939 00:52:00,242 --> 00:52:03,161 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 00:52:05,997 --> 00:52:07,999 They're gonna destroy the economy of America. 942 00:52:08,083 --> 00:52:09,751 This country is upside down. 943 00:52:09,835 --> 00:52:13,171 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 00:52:14,881 --> 00:52:16,883 and everyone else is getting poorer and poorer. 946 00:52:16,967 --> 00:52:21,471 [protestor] It seems to me that the blame has to be placed on both parties. 947 00:52:21,555 --> 00:52:24,307 And it's time we sent a clear message to them. 948 00:52:24,391 --> 00:52:27,894 You either stop railroading our people and our country, 949 00:52:27,978 --> 00:52:29,729 or we're gonna throw all you bums out. 950 00:52:29,813 --> 00:52:32,315 [crowd cheering] 951 00:52:34,150 --> 00:52:36,486 [Megyn Kelly] It is 9:00 p.m. on the East Coast. 952 00:52:36,570 --> 00:52:38,613 And the moment of truth has arrived. 953 00:52:38,697 --> 00:52:42,242 Welcome to the first debate night of the 2016 presidential campaign 954 00:52:42,325 --> 00:52:44,077 live from Quicken Loans Arena. 955 00:52:44,160 --> 00:52:48,206 [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 00:52:53,503 --> 00:52:54,921 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 --> 00:53:00,051 [Trump] You'd better believe it. 961 00:53:00,135 --> 00:53:02,053 -It's true. -[Bret Baier] What did they do? 962 00:53:02,137 --> 00:53:04,931 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 --> 00:53:09,227 Before this, two months ago, I was a businessman. 965 00:53:09,311 --> 00:53:11,521 I give to everybody. When they call, I give. 966 00:53:11,605 --> 00:53:12,522 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 00:53:16,776 --> 00:53:18,069 They are there for me. 969 00:53:18,153 --> 00:53:19,946 -What did you get? -That's a broken system. 970 00:53:20,655 --> 00:53:23,033 I've never heard a candidate, never, 971 00:53:23,116 --> 00:53:25,785 who's received huge amounts of money from oil, 972 00:53:25,869 --> 00:53:28,705 from coal, from Wall Street, 973 00:53:28,788 --> 00:53:30,999 from the military industrial complex... 974 00:53:31,082 --> 00:53:32,125 Not one candidate. 975 00:53:32,208 --> 00:53:36,171 "All these campaign contributions will not influence me. 976 00:53:36,254 --> 00:53:37,672 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 00:53:44,262 --> 00:53:47,933 You've received millions of dollars in contributions and speaking fees 980 00:53:48,016 --> 00:53:49,225 from Wall Street companies. 981 00:53:49,309 --> 00:53:52,520 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 00:53:55,523 --> 00:53:58,610 Well, I think it's pretty clear that they know that I will. 984 00:53:58,693 --> 00:54:01,488 You've got two billionaire hedge fund managers... 985 00:54:03,073 --> 00:54:05,450 [woman] They want to hear your thoughts on Donald. 986 00:54:05,533 --> 00:54:07,077 Oh, yeah. 987 00:54:07,160 --> 00:54:07,994 Trump. 988 00:54:08,078 --> 00:54:09,162 Brutally honest? 989 00:54:09,245 --> 00:54:10,538 [laughter] 990 00:54:10,622 --> 00:54:11,790 [woman] Go for it. Yeah! 991 00:54:11,873 --> 00:54:12,874 [overlapping chatter] 992 00:54:12,958 --> 00:54:14,417 I think he's a great businessman. 993 00:54:14,501 --> 00:54:15,335 [woman] Oh. 994 00:54:15,418 --> 00:54:18,755 I think this country needs a businessman's standpoint. 995 00:54:19,506 --> 00:54:20,548 [woman] Yeah? 996 00:54:20,632 --> 00:54:23,093 -Do you know, he's against the union? -A lot of people... 997 00:54:23,176 --> 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 00:54:31,017 --> 00:54:32,185 A businessman. 1001 00:54:32,727 --> 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 00:54:41,486 --> 00:54:42,904 -"Politics"... -Yes. 1005 00:54:42,988 --> 00:54:45,865 ...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 00:54:49,744 --> 00:54:51,746 -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 00:54:54,874 --> 00:54:56,584 -...that are on.... -[woman] The anger. 1010 00:54:56,668 --> 00:54:58,837 Anger or issues. 1011 00:54:58,920 --> 00:55:01,881 It's anger. It's anger. He's... 1012 00:55:01,965 --> 00:55:05,927 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 00:55:09,514 --> 00:55:13,143 It's because he's saying stuff that people are thinking. 1015 00:55:13,226 --> 00:55:17,188 -[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 00:55:19,357 --> 00:55:21,067 -Bernie's saying... -[man #2] Exactly. 1018 00:55:21,151 --> 00:55:22,485 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 00:55:27,490 --> 00:55:29,367 Bernie is my man. 1022 00:55:29,451 --> 00:55:31,661 So it's not Republican - Democrat. 1023 00:55:31,745 --> 00:55:33,329 -[woman] No! -[Darvin] No, it's both. 1024 00:55:33,413 --> 00:55:34,873 -It is. So... -[woman] Both of them. 1025 00:55:34,956 --> 00:55:39,044 If it was up to me, I would say, "Hey, let's get a fresh stack of... 1026 00:55:39,961 --> 00:55:41,337 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 00:55:42,797 --> 00:55:44,215 -[Darvin] Re-elect nobody. -Huh? 1029 00:55:44,299 --> 00:55:46,593 -[Darvin] Re-elect nobody. -[man #3] There you go! 1030 00:55:46,676 --> 00:55:47,969 [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 --> 00:55:59,689 in favor of the broad public. 1034 00:55:59,773 --> 00:56:03,109 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 00:56:08,531 --> 00:56:09,657 [laughter] 1038 00:56:09,741 --> 00:56:11,868 But to be more general about it, 1039 00:56:11,951 --> 00:56:15,080 when people are angry and frustrated and afraid, 1040 00:56:15,163 --> 00:56:17,707 and they feel economically insecure, 1041 00:56:17,791 --> 00:56:21,628 they tend to either move toward authoritarian populism 1042 00:56:21,711 --> 00:56:24,172 which is, "Give me the strong man 1043 00:56:24,255 --> 00:56:26,716 who's going to fix everything on behalf of the people." 1044 00:56:27,884 --> 00:56:29,260 But it's anti-Democratic 1045 00:56:29,344 --> 00:56:31,304 and often uses scapegoating 1046 00:56:31,387 --> 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 00:56:37,143 --> 00:56:39,854 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 00:56:42,440 --> 00:56:45,485 We're going to create a very, very different system 1051 00:56:45,568 --> 00:56:48,571 that is much more reflective of the people's needs." 1052 00:56:49,614 --> 00:56:53,326 So populism is not necessarily good. 1053 00:56:53,409 --> 00:56:54,536 It depends... 1054 00:56:55,036 --> 00:56:57,455 on what form it takes. 1055 00:57:10,301 --> 00:57:12,720 Faith in our major institutions 1056 00:57:12,804 --> 00:57:15,181 has plummeted over the last 30 years. 1057 00:57:16,224 --> 00:57:17,475 And this is dangerous. 1058 00:57:18,101 --> 00:57:21,813 Because if people don't trust that our society 1059 00:57:21,896 --> 00:57:24,023 is working for most people... 1060 00:57:25,608 --> 00:57:27,986 then they are very vulnerable. 1061 00:57:39,330 --> 00:57:42,709 We're at a critical turning point in this country. 1062 00:57:43,710 --> 00:57:47,380 And we're either going to go toward authoritarian populism... 1063 00:57:48,923 --> 00:57:50,425 over the long-term, 1064 00:57:50,508 --> 00:57:54,095 or we're going to go in the direction of a democratic... 1065 00:57:54,179 --> 00:57:56,014 a fundamental democratic change. 1066 00:58:00,477 --> 00:58:04,147 A democracy is a very fragile thing. 1067 00:58:13,281 --> 00:58:15,533 The other day, I was going through the airport. 1068 00:58:15,617 --> 00:58:17,452 Somebody came up to me - a complete stranger. 1069 00:58:17,535 --> 00:58:18,828 She said to me, 1070 00:58:19,412 --> 00:58:20,622 "So, what are we gonna do?" 1071 00:58:20,705 --> 00:58:24,167 [laughter] 1072 00:58:24,250 --> 00:58:25,710 I said, "I don't know." 1073 00:58:25,793 --> 00:58:27,545 [laughter] 1074 00:58:27,629 --> 00:58:30,381 And then other people in other airports and other places, 1075 00:58:30,465 --> 00:58:31,549 they come up and say, 1076 00:58:32,884 --> 00:58:34,093 "Can you believe it?" 1077 00:58:34,177 --> 00:58:36,054 [laughter] 1078 00:58:37,138 --> 00:58:40,975 The way we get our economy back... 1079 00:58:42,685 --> 00:58:45,605 really is about the way we get our democracy back. 1080 00:58:46,856 --> 00:58:48,733 And that is getting together 1081 00:58:49,651 --> 00:58:52,654 and creating institutions 1082 00:58:53,071 --> 00:58:57,033 that countervail the power of the biggest corporations, 1083 00:58:57,116 --> 00:58:59,410 and the biggest banks and the wealthiest people. 1084 00:58:59,911 --> 00:59:05,124 Citizenship is more than just voting and jury duty and paying taxes. 1085 00:59:05,208 --> 00:59:09,003 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 00:59:13,299 --> 00:59:16,261 It's all of our responsibilities to make sure for ourselves, 1088 00:59:16,344 --> 00:59:18,846 but also for our children and grandchildren... 1089 00:59:21,307 --> 00:59:23,351 that we make this thing work. 1090 00:59:25,979 --> 00:59:26,896 Thank you. 1091 00:59:26,980 --> 00:59:29,524 [applause] 1092 00:59:29,607 --> 00:59:31,901 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 00:59:37,615 --> 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 00:59:46,082 --> 00:59:49,377 our instinct in this country is to put it back on the rails. 1098 01:00:02,140 --> 01:00:06,102 We are seeing the same kind of concentrated income and wealth, 1099 01:00:06,185 --> 01:00:09,439 the same kind of political corruption. 1100 01:00:09,522 --> 01:00:13,610 We saw the same thing in the 1880s and 1890s. 1101 01:00:14,527 --> 01:00:17,614 And the rules added to the wealth. 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 01:00:25,663 --> 01:00:28,875 People became so angry. 1104 01:00:30,418 --> 01:00:33,921 And that anger was channeled in a positive direction. 1105 01:00:36,716 --> 01:00:38,968 People organized themselves 1106 01:00:39,052 --> 01:00:43,806 and changed the organization of the political economic system. 1107 01:00:46,976 --> 01:00:50,063 The first major antitrust legislation was passed, 1108 01:00:50,480 --> 01:00:52,231 which broke up huge monopolies. 1109 01:00:54,567 --> 01:00:56,694 And then President Teddy Roosevelt 1110 01:00:56,778 --> 01:00:58,488 signed a law that prohibited 1111 01:00:58,571 --> 01:01:01,449 corporate donations to political campaigns. 1112 01:01:07,580 --> 01:01:09,874 We don't succumb, 1113 01:01:09,957 --> 01:01:11,709 as other countries have, 1114 01:01:11,793 --> 01:01:14,045 to fascism or communism. 1115 01:01:14,128 --> 01:01:16,255 We are much more pragmatic than that. 1116 01:01:18,091 --> 01:01:19,717 And I think we'll do it again. 1117 01:02:13,396 --> 01:02:16,357 [Reich] I'm also optimistic because I teach. 1118 01:02:16,441 --> 01:02:19,819 I surround myself every day with young people. 1119 01:02:20,403 --> 01:02:23,197 And I see in young people today 1120 01:02:23,281 --> 01:02:25,908 a huge yearning, 1121 01:02:25,992 --> 01:02:28,911 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 01:02:40,214 --> 01:02:41,924 and great, great danger. 1125 01:02:43,092 --> 01:02:46,429 Some of you, and I don't know who it is, 1126 01:02:46,512 --> 01:02:48,139 and I don't know how many of you... 1127 01:02:49,932 --> 01:02:53,060 will be part of the solution. 1128 01:02:54,520 --> 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 01:03:00,943 --> 01:03:02,653 [overlapping chatter] 1131 01:03:02,737 --> 01:03:05,364 This is the most extraordinary... 1132 01:03:06,657 --> 01:03:08,659 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 01:03:18,127 --> 01:03:20,254 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 01:03:23,257 --> 01:03:26,177 to think that it's been 50 years, 1138 01:03:26,260 --> 01:03:27,929 and we're in deeper shit... 1139 01:03:28,012 --> 01:03:29,013 [laughter] 1140 01:03:29,096 --> 01:03:30,139 ...than we were then. 1141 01:03:30,973 --> 01:03:35,019 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 --> 01:03:43,027 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 01:03:53,579 --> 01:03:54,622 strength from? 1146 01:03:55,206 --> 01:03:57,416 [student] I wouldn't say that American history 1147 01:03:57,500 --> 01:04:00,294 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 01:04:05,007 --> 01:04:08,219 A sense of shared identity. I don't think that exists so much anymore. 1150 01:04:08,302 --> 01:04:11,347 Certainly, there are moments of despair and hopelessness 1151 01:04:11,430 --> 01:04:14,141 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 --> 01:04:20,064 But you have to believe things will get better. 1154 01:04:20,147 --> 01:04:21,148 Or... 1155 01:04:21,732 --> 01:04:23,943 Or you'll just always be living in hopelessness. 1156 01:04:24,360 --> 01:04:26,028 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 01:04:31,784 --> 01:04:33,703 and that's mobilizing people, also, 1159 01:04:33,786 --> 01:04:36,539 into making people act and reflect on and... 1160 01:04:37,915 --> 01:04:39,333 participate in politics. 1161 01:04:40,376 --> 01:04:41,586 So, it's... It's hope. 1162 01:04:42,628 --> 01:04:45,089 I wish, with hindsight, 1163 01:04:45,172 --> 01:04:47,717 that when I had had the opportunity... 1164 01:04:50,303 --> 01:04:51,637 in government... 1165 01:04:51,721 --> 01:04:54,473 I wished I had pushed harder. 1166 01:05:00,897 --> 01:05:03,524 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 01:05:09,405 --> 01:05:11,532 It's now up to the next generation. 1169 01:05:26,505 --> 01:05:28,966 [Reich] All social change occurs 1170 01:05:29,675 --> 01:05:32,970 when people become aware of a tension 1171 01:05:33,054 --> 01:05:35,973 between the ideal that they carry around in their heads 1172 01:05:36,057 --> 01:05:38,517 about how the system really ought to work, 1173 01:05:39,143 --> 01:05:40,811 and the reality they see around them. 1174 01:05:41,562 --> 01:05:43,731 And when that tension becomes too great, 1175 01:05:43,814 --> 01:05:46,275 that dissonance becomes too intense, 1176 01:05:46,692 --> 01:05:50,613 they are willing to take action. 1177 01:05:54,867 --> 01:05:56,327 [crowd chanting] Affordable care! 1178 01:05:56,410 --> 01:05:58,704 -We want it now! -We want it now! 1179 01:05:59,664 --> 01:06:02,875 [Guadalupe] It's getting a bit better because we are doing something 1180 01:06:02,959 --> 01:06:04,502 to make a change. 1181 01:06:05,127 --> 01:06:10,883 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 01:06:15,554 --> 01:06:17,473 $15 in the union! 1184 01:06:17,556 --> 01:06:19,642 When do we want it? 1185 01:06:19,725 --> 01:06:20,559 [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 01:06:31,028 --> 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 01:06:38,327 --> 01:06:43,541 Because now the rest of the nation is looking at us. 1191 01:06:43,624 --> 01:06:46,919 And they're seeing that $15 per hour... 1192 01:06:47,003 --> 01:06:48,587 It's achievable. 1193 01:06:48,671 --> 01:06:49,880 We can do it. 1194 01:07:00,516 --> 01:07:04,353 [overlapping chatter and laughter] 1195 01:07:04,437 --> 01:07:07,440 We're getting hardened on how to organize. 1196 01:07:07,523 --> 01:07:11,402 When they start trying to discredit you, and belittle you, 1197 01:07:11,485 --> 01:07:12,945 you know you're making an impact. 1198 01:07:13,029 --> 01:07:14,488 [sounds drowns out] 1199 01:07:14,572 --> 01:07:16,032 [indistinct shouting] 1200 01:07:16,115 --> 01:07:17,241 [Victoria] My question is, 1201 01:07:17,324 --> 01:07:21,787 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 01:07:27,501 --> 01:07:30,671 with a pre-existing condition, as I live below the poverty level? 1204 01:07:30,755 --> 01:07:34,800 [loud cheering] 1205 01:07:34,884 --> 01:07:38,220 [cheering and whistling] 1206 01:07:42,475 --> 01:07:44,226 It's Office Hours Live . 1207 01:07:44,310 --> 01:07:45,144 [cheering] 1208 01:07:45,227 --> 01:07:48,439 A lot of people who, until now, have said, "Well, politics is out there, 1209 01:07:48,522 --> 01:07:50,232 politics is for other people", 1210 01:07:50,316 --> 01:07:53,444 are now understanding that they can't sit back. 1211 01:07:53,527 --> 01:07:55,196 The people in control 1212 01:07:55,279 --> 01:08:00,868 have reason and means to keep us in separate groups 1213 01:08:00,951 --> 01:08:03,204 and keep us angry at each other. 1214 01:08:03,287 --> 01:08:05,414 The strength you have is in numbers. 1215 01:08:05,498 --> 01:08:07,666 -[group] Right. -It's not just in guts. 1216 01:08:07,750 --> 01:08:08,834 [woman #2] That's right. 1217 01:08:13,005 --> 01:08:14,381 I ask you all 1218 01:08:14,465 --> 01:08:16,467 to take five minutes out of your day 1219 01:08:16,550 --> 01:08:21,931 and make at least one phone call to your congressperson, 1220 01:08:22,014 --> 01:08:24,141 one phone call to your senator, 1221 01:08:24,225 --> 01:08:25,518 and I guarantee you, 1222 01:08:25,601 --> 01:08:29,063 that if we continue doing so, we will succeed. 1223 01:08:29,146 --> 01:08:32,483 [cheering] 1224 01:08:32,566 --> 01:08:34,568 [chanting] Do your job! Do your job! 1225 01:08:34,652 --> 01:08:37,404 Do your job! Do your job! 1226 01:08:38,906 --> 01:08:44,036 [Reich] The only way forward to a system that works for the majority of us, 1227 01:08:44,453 --> 01:08:46,038 is to get organized 1228 01:08:46,122 --> 01:08:47,623 and politically active. 1229 01:08:48,165 --> 01:08:49,875 [indistinct speech] 1230 01:08:49,959 --> 01:08:52,670 [Reich] The moneyed interests are doing what they do best - 1231 01:08:53,170 --> 01:08:54,046 making money. 1232 01:08:54,130 --> 01:08:55,131 [speaks indistinctly] 1233 01:08:56,090 --> 01:08:59,385 [Reich] The rest of us need to do what we can do best... 1234 01:09:00,302 --> 01:09:02,012 Use our voices. 1235 01:09:03,264 --> 01:09:04,682 Our vigor. 1236 01:09:05,683 --> 01:09:07,101 And our votes. 1237 01:09:10,479 --> 01:09:13,149 It's up to us to change the rules. 1238 01:09:15,192 --> 01:09:17,278 [music playing] 1239 01:09:26,662 --> 01:09:30,374 If you're gonna be a citizen activist, three things... 1240 01:09:30,457 --> 01:09:33,711 Number one, you've got to be tenacious and patient. 1241 01:09:33,794 --> 01:09:36,338 Social change does not happen quickly. 1242 01:09:42,469 --> 01:09:43,512 Number two, 1243 01:09:43,596 --> 01:09:45,639 talk to people who disagree with you. 1244 01:09:45,723 --> 01:09:47,099 Get out of your bubble. 1245 01:09:47,183 --> 01:09:49,935 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 01:09:51,937 --> 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 --> 01:10:00,779 have some fun.