Global: 'They’ve been bailing like hell and they’re failing'

In this video, John Bellamy Foster, editor of Monthly Review and co-author of 'The Great Financial Crisis: Causes and Consequences' discusses the causes of the current global financial crisis. 'You’ve all heard of the 700 billion bailouts…but the US government has so far committed over five trillion dollars to directly bailing out or providing a backstop to financial operations…you’ve probably only heard of the 700 billion…they’ve been bailing like hell and they’re failing…every part of the world is now in state of economic crisis.'