BTS 5/21/10: Financial Reform Bill; SB1070 Lawsuit; Tea Party Ideology

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Nomi Prins joins us to dissect the Senate Financial Reform Bill passed yesterday. Nomi thinks the bill is far from “sweeping.” She says it doesn’t’ deter the reckless financial engineering, investing, and inflation of values upon which leveraged funds thrive, and won't protect us from economic chaos. We’ll ask her whether the financial sector is a clear and present danger to all of us, whether the real worry behind ‘Too Big to Fail’ is about ‘too big to bail’ as Max Wolff put it – and what this bill does to protect ordinary workers and consumers. We’ll also ask Nomi what reforms we need.

Marielena Hincapié, Executive Director of the National Immigration Law Center joins us to talk about the Class Action Law Suit her organization along with a coalition of civil rights groups filed challenging Arizona’s SB 1070 -- which declares open season on people of color, sets the clock back on a generation of civil rights gains, mandates racial profiling, jeopardizes public safety and creates a wedge between law enforcement and ethnic communities The extreme law, the coalition charged, invites the racial profiling of people of color, violates the First Amendment and interferes with federal law.

Greg Grandin, Professor of history at NYU and author of Fordlandia, recently called Glenn Beck the “Perfect Pitchman for the Tea Party's Deranged Ideas About US History.” In light of the primary win of Tea Partier Rand Paul in Kentucky, we’ll go beneath the surface with Professor Grandin to discuss the ideas behind this nationalist and racist resurgence. Grandin insists there is a coherence to the Tea Party version of history, which he says allows conservative cadres not just to interpret the world but to act in it – and Grandin says, it is all about race.

Read More for info on tonight's guests:

1. Nomi Prins, a former managing director at Goldman Sachs, writes on corruption in Washington and on Wall Street for Mother Jones, Fortune, AlterNet, the Nation, and many other publications. She is a senior fellow at the public-policy think-tank, Demos, and has appeared on The NewsHour, Democracy Now!, and various CNBC, CNN, and Fox TV programs, as well as numerous national radio stations, including NPR and Air America. She is the author of several books, including Other People's Money: The Corporate Mugging of America, Jacked: How Conservatives are Picking Your Pocket, and It Takes a Pillage.

2. Marielena Hincapié is executive director of the National Immigration Law Center. She is a public interest lawyer who specializes in protecting and advancing the rights of immigrant workers, particularly those who are undocumented. She has authored numerous publications and policy analyses, provided strategic assistance and training to thousands of legal and social service providers, and to labor unions and community-based organizations. Ms. Hincapié is also a frequent lecturer at national and international conferences addressing issues of migration. She has litigated law reform and impact litigation cases dealing with the intersection of immigration laws and employment/labor laws. Ms. Hincapié serves on the American Bar Association's Commission on Immigration, and on the executive committee of the National Lawyers Guild's Labor and Employment Committee. She is the youngest of 10 children, and an immigrant from Medellín, Colombia.

3. Greg Grandin is a professor of history at New York University. His most recent book, Fordlandia: The Rise and Fall of Henry Ford’s Forgotten Jungle City, just published in paperback, was a finalist for the Pulitzer Prize, the National Book Award, and the National Book Critics Circle Award, and was picked by the New York Times, the New Yorker, and NPR for their “best of” lists. A new edition of his previous book, Empire’s Workshop: Latin America, the United States and the Rise of the New Imperialism, will be published later this year.