Video transcript
Painel Haddad (02/12/2019) - Delfim Netto
327 statements · 2 politicians · December 2, 2019 · 30 min
Statements by Fernando Haddad, Luis Inacio Lula da Silva. 327 transcribed statements, with topic and stance on the ones the analysis classified.
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Transcript
327 statementsFull transcript of the video. Statements the analysis classified carry topic and stance.
My interviewee today is one of the best known and most recognized names on the country's political and economic scene.
He was Minister of Finance, of Planning, of Agriculture and Brazilian ambassador to France.
He is respected in all international forums.
Good evening, Professor Antônio Delfim Neto.
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Good evening, Mayor.
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It's a joy to be with you here.
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A joy to be with you.
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Thank you very much for the honour you confer on me.
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The honor is mine.
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To take part in this program.
One of the pillars of modern society.
Is a credit system that works.
That is, whoever saves and does not want to invest has to find a borrower who does something with that resource, who puts it to work.
And financial intermediation has to function properly so that the money changes hands and reaches creative people.
Because that person who is selling one cake could be selling 10, could be selling a thousand.
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What happens is very simple.
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The financialization of the economy is a disaster.
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When the financial system appropriates the real sector, the real sector withers.
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The real sector starts to work for the financial system.
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It's exactly the opposite of what we want, which is for the financial system to work for the real sector.
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So, this actually began, if you allow me a minute.
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Of course.
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The crisis of '29 was produced exactly for the same reasons as the crisis of 2008.
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What reasons were those?
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The dominance of the financial system over the real economy.
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Just read the Pecora report on the crisis of '29, you'll see the following.
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The behavior of the financial system...
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It was done by the American Congress.
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It was done exactly the same way; it's a reproduction of what happened in 2008.
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Roosevelt came, who saved capitalism...
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His own.
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No, he saved his own capitalism, because, in fact, capitalism in the hands of the financial system is primitive capitalism.
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The financial system needs regulation.
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Very strong, because it is important for development, but it can be a factor that slows development when, in fact, this happens.
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It appropriates the real sector.
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What happened?
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Roosevelt did that thing, separating banks for normal loans from investment banks; he controlled all of that.
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You had an expansion of 70 years, 50 years.
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Around 1980, the neoliberals emerged, who rediscovered the perfect market and the honest market.
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They convinced Reagan and they convinced Thatcher.
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