Boom Bust Season 2 Episode 9 New Russian Sanctions and Nomi Prins On Bank Fraud

New Russian Sanctions and Nomi Prins On Bank Fraud is the ninth episode of Season 2 of Boom Bust, a financial news show. This episode primarily focuses on the latest round of sanctions imposed on Russia and the issue of bank fraud.

The host of the show, Bart Chilton, starts the episode by discussing the recent decision by the United States to impose new sanctions on Russia. He explains why the US took this step, what impact it is likely to have on the Russian economy, and how it will affect US businesses that have dealings with Russia.

Next, Chilton interviews Nomi Prins, a renowned financial journalist and author. Prins had previously worked in the banking industry and has written extensively on the subject of bank fraud. In this episode, she shares her insights on the recent scandals involving major banks and how regulators are trying to tackle the problem.

One of the key topics of the show is the issue of money laundering. Chilton explains how banks have been accused of facilitating money laundering by enabling criminal organizations to move money across borders undetected. Prins elaborates on this issue, discussing how inadequate regulations and enforcement have allowed banks to engage in such practices.

Prins also talks about the concept of "too big to fail" and how it has contributed to the problem of bank fraud. According to her, the government's reluctance to let big banks fail has emboldened them to take risks and engage in unethical behavior. She stresses the need for greater accountability and transparency in the banking sector.

Towards the end of the episode, Chilton and Prins discuss the possibility of another financial crisis. They point out that the roots of the previous crisis still exist and have not been fully addressed. Prins argues that the only way to prevent another crisis is to fundamentally change the banking system and ensure that it serves the needs of the wider economy.

Overall, New Russian Sanctions and Nomi Prins On Bank Fraud offers a thought-provoking look at some of the most pressing issues facing the global financial system today. From the impact of geopolitical tensions on trade and investment to the ongoing challenges of regulating the banking sector, the episode provides valuable insights for anyone who wants to understand the complexities of the modern economy.