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2.03 MB
Extraction Summary
3
People
5
Organizations
4
Locations
2
Events
1
Relationships
4
Quotes
Document Information
Type:
Transcript (interview or q&a session)
File Size:
2.03 MB
Summary
This document is a transcript page from a Q&A session featuring Steve Bannon. Bannon discusses the 2008 financial crisis, the lack of accountability for bank executives, and how this fueled the Tea Party movement. A questioner named Mario Fantini asks Bannon about how to counteract the rise of the 'Identitarians' (a neo-nativist movement) in Europe. The page concludes with a pull quote noting that despite Congressional recommendations, no bank executives were indicted following the crisis.
People (3)
| Name | Role | Context |
|---|---|---|
| Bannon | Speaker/Respondent |
Answering questions regarding the financial crisis, banking regulations, and populist movements.
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| Mario Fantini | Questioner |
Identifies himself as a Vermonter living in Vienna, Austria; asks about the 'Identitarians' movement in Europe.
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| Unnamed Questioner | Participant |
Thanks Bannon for the previous answer.
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Organizations (5)
| Name | Type | Context |
|---|---|---|
| Tea Party |
Described by Bannon as a populist revolt fueled by the 2008 financial crisis.
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|
| Identitarians |
Described by Mario Fantini as a tribalist or neo-nativist movement growing in Europe.
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| Congress |
Mentioned in the pull quote regarding recommendations for criminal indictments.
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| Justice Department |
Mentioned in the pull quote as receiving recommendations for indictments.
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| House Oversight Committee |
Implied by the Bates stamp 'HOUSE_OVERSIGHT'.
|
Timeline (2 events)
Locations (4)
| Location | Context |
|---|---|
|
Location of the Tea Party movement.
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Residence of questioner Mario Fantini.
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Home state of questioner Mario Fantini.
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Region where the Identitarian movement is spreading.
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Relationships (1)
Fantini asks Bannon a question during a Q&A session.
Key Quotes (4)
"the underpinning of this populist revolt is the financial crisis of 2008."Source
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Quote #1
"That revolt... has fueled much of the anger in the tea party movement in the United States."Source
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Quote #2
"Commercial banks lend money, and investment banks invest in entrepreneurs"Source
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Quote #3
"One of the committees in Congress said to the Justice Department, 35 [bank] executives, I believe, that they should have criminal indictments against — not one of those has ever been followed up on."Source
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Quote #4
Full Extracted Text
Complete text extracted from the document (2,256 characters)
wealth that they took in the 15 years leading up to the crisis was not hit at all, and I think that’s one of the fuels of this populist revolt that we’re seeing as the tea party. So I think there are many, many measures, particularly about getting the banks on better footing, making them address all the liquid assets they have. I think you need a real clean-up of the banks balance sheets.
In addition, I think you really need to go back and make banks do what they do:
Commercial banks lend money, and investment banks invest in entrepreneurs and to get away from this trading — you know, the hedge fund securitization, which they’ve all become basically trading operations and securitizations and not put capital back and really grow businesses and to grow the economy. So I think it’s a whole area that just — and I will tell you, the underpinning of this populist revolt is the financial crisis of 2008.
That revolt, the way that it was dealt with, the way that the people who ran the banks and ran the hedge funds have never really been held accountable for what they did, has fueled much of the anger in the tea party movement in the United States.
Questioner: Thank you.
Bannon: Great question.
Questioner: Hello, Mr. Bannon. I’m Mario Fantini, a Vermonter living in Vienna, Austria. You began describing some of the trends you’re seeing worldwide, very dangerous trends, worry trends. Another movement that I’ve been seeing grow and spread in Europe, unfortunately, is what can only be described as tribalist or neo-nativist movement — they call themselves Identitarians. These are mostly young, working-class, populist groups, and they’re teaching self-defense classes, but also they are arguing against — and quite effectively, I might add — against capitalism and global financial institutions, etc. How do we counteract this stuff? Because they’re appealing to a lot of young people at a very visceral level, especially with the ethnic and racial stuff.
Bannon: I didn’t hear the whole question, about the tribalist?
In addition, I think you really need to go back and make banks do what they do:
Commercial banks lend money, and investment banks invest in entrepreneurs and to get away from this trading — you know, the hedge fund securitization, which they’ve all become basically trading operations and securitizations and not put capital back and really grow businesses and to grow the economy. So I think it’s a whole area that just — and I will tell you, the underpinning of this populist revolt is the financial crisis of 2008.
That revolt, the way that it was dealt with, the way that the people who ran the banks and ran the hedge funds have never really been held accountable for what they did, has fueled much of the anger in the tea party movement in the United States.
Questioner: Thank you.
Bannon: Great question.
Questioner: Hello, Mr. Bannon. I’m Mario Fantini, a Vermonter living in Vienna, Austria. You began describing some of the trends you’re seeing worldwide, very dangerous trends, worry trends. Another movement that I’ve been seeing grow and spread in Europe, unfortunately, is what can only be described as tribalist or neo-nativist movement — they call themselves Identitarians. These are mostly young, working-class, populist groups, and they’re teaching self-defense classes, but also they are arguing against — and quite effectively, I might add — against capitalism and global financial institutions, etc. How do we counteract this stuff? Because they’re appealing to a lot of young people at a very visceral level, especially with the ethnic and racial stuff.
Bannon: I didn’t hear the whole question, about the tribalist?
“One of the committees in Congress said to the Justice Department, 35 [bank] executives, I believe, that they should have criminal indictments against — not one of those has ever been followed up on.”
HOUSE_OVERSIGHT_029075
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