Moyers & Company

In its premiere episode, Moyers & Company dives into one of the most important and controversial issues of our time: How Washington and Big Business colluded to make the super-rich richer and turn their backs on the rest of us. Bill’s guests – Jacob Hacker and Paul Pierson, authors of Winner-Take-All Politics: How Washington Made the Rich Richer — And Turned Its Back on the Middle Class, argue that America’s vast inequality is no accident, but in fact has been politically engineered. How, in a nation as wealthy as America, can the economy simply stop working for people at large, while super-serving those at the very top? Through exhaustive research and analysis, the political scientists Hacker and Pierson — whom Bill regards as the “Sherlock Holmes and Dr. Watson” of economics — detail important truths behind a 30-year economic assault against the middle class.

This weekend, continuing its sharp multi-episode focus on the intersection of money and politics, Moyers & Company explores the tight connection between Wall Street and the White House with David Stockman – yes, that David Stockman — former budget director for President Reagan. Now a businessman who says he was “taken to the woodshed” for telling the truth about the administration’s tax policies, Stockman speaks candidly with Bill Moyers about how money dominates politics, distorting free markets and endangering democracy. “As a result,” Stockman says, “we have neither capitalism nor democracy. We have crony capitalism.” Stockman shares details on how the courtship of politics and high finance have turned our economy into a private club that rewards the super-rich and corporations, leaving average Americans wondering how it could happen and who’s really in charge.

Big banks are rewriting the rules of our economy to the exclusive benefit of their own bottom line. But how did our political and financial class shift the benefits of the economy to the very top, while saddling us with greater debt and tearing new holes in the safety net? Bill Moyers talks with former Citigroup Chairman John Reed and former Senator Byron Dorgan to explore a momentous instance: how the late-90’s merger of Citicorp and Travelers Group – and a friendly Presidential pen — brought down the Glass-Steagall Act, a crucial firewall between banks and investment firms which had protected consumers from financial calamity since the aftermath of the Great Depression. In effect, says Moyers, they “put the watchdog to sleep.” There’s no clearer example of the collusion between government and corporate finance than the Citicorp-Travelers merger, which — thanks to the removal of Glass-Steagall — enabled the formation of the financial behemoth known as Citigroup.

Our country is more politically polarized than ever. Is it possible to agree to disagree and still move on to solve our massive problems? Or are the blind leading the blind — over the cliff? Bill and social psychologist Jonathan Haidt talk about the psychological underpinnings of our contentious culture, why we can’t trust our own opinions, and the demonizing of our adversaries. “When it gets so that your opponents are not just people you disagree with, but… the mental state in which I am fighting for good, and you are fighting for evil, it’s very difficult to compromise,” Haidt tells Moyers. “Compromise becomes a dirty word.” Also, a Bill Moyers essay on why Newt Gingrich might be afraid of Saul Alinsky.

There are 80-plus million Americans today who were born roughly between 1978 and 2000, and they’re getting hit hard by economic circumstances created over the past 30 years. The Millennials are the first generation of Americans who cannot count on doing better than their parents. Many Millennials are working longer hours, and have seen their earnings decrease. Meanwhile, their personal debt has increased over the last four years to the point where they face unrelenting payments on interest for money they borrowed for college or just to stay above water. How have these realities affected their outlook? And how will it impact Barack Obama’s future? Millennials turned out for him by huge margins in 2008, but their enthusiasm has waned. On this week’s Moyers & Company, Bill Moyers talks with a Millennial who has dedicated herself to tackling these issues.

We’re saturated with deceptive political advertising — aided and abetted now with spending by citizens, corporations and super PACs that seems to know no bounds. Add to that relatively cheap “buys” on the media landscape including television, the web, print media and social networks, and there’s no place for the electorate to escape. But help is on the way. This weekend on Moyers & Company, Bill asks political communication expert Kathleen Hall Jamieson to decode the political misinformation campaigns of 2012 thus far. Jamieson runs the Annenberg Public Policy Center at the University of Pennsylvania, including the sites FactCheck.org and FlackCheck.org. The show then moves from politics to poetry as Bill welcomes former U.S. Poet Laureate Rita Dove, who this week received the National Medal of Arts from President Obama. Dove was the youngest and the first African American to be named poet laureate in 1993.

Dan Cantor, New York Working Families Party; Jonathan Soros, Friends of Democracy super PAC; the power of poetry with Martin Espada.