Common Sense On The Bailout

Damon Silvers, a labor official and financial industry expert, explains the roots of the Wall Street financial crisis and outlines a progressive approach to addressing it. He says that the regulatory black hole that many Wall Street titans operated in has to be closed. He also outlines why Congress should "tear up" the Bush administration's "blank check" proposal for a $700 billion bailout and replace it with legislation that embraces the "Call for Common Sense" [1] that has been endorsed by a cross-section of grassroots organizations. Silvers is associate general counsel for the AFL-CIO. (Flip Video courtesy of the Voter Genome Project.)