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May 20th, 2011
12:24 PM ET

Clips From Last Night: Capitalism discussion from an author, an actor, a TV host and an 11-year-old

Piers Morgan had several guests on "Piers Morgan Tonight" last night who talked about capitalism. CNBC host Joe Kernen and his daughter, 11-year-old Blake Kernen. They are the co-authors of new book, "Your Teacher Said What?!"

"To me, it's the free markets doing their thing and it's also the private ownership of business," said Blake of capitalism. He also talked to Andrew Ross Sorkin and James Woods about the new movie "Too Big To Fail."

"I thought it was a very Shakespearean story because these people have these tragic flaws it seems," said Woods of the movie he's starring in.

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  1. Lisa Green

    You did a fantastic job on this interview. It was appararent that the child was being coached and kept looking toward her dad for recognition as to whether she was answering the questions the way he wanted. It was clear that Joe Kernen does not want any restrictions on the earnings of CEO's, whether they took TARP money from the taxpayers or not. You were tactful, but made your point very clearly. I admire how you handled this interview.

    May 20, 2011 at 12:43 pm | Report abuse | Reply
  2. john milks

    Piers,
    Interesting interview with Joe Kernan last night. i haven't seen his show for awhile and haven't read his book. Just finished reading "The big short". How anyone, who had a front seat in the financial disaster of 2008 could be so nonchanlont and dismissive of what happened and how the government is trying to fix it is beyond me. I think the Joe thinks that "Greed is good" and has his head in the sand.

    May 20, 2011 at 12:50 pm | Report abuse | Reply
  3. Tish

    Your show last nite with James Wood and Andrew Sorkin had me on the edge of my seat!! There is one more "B to blame for this besides the banks,,, BUILDERS!! They set the homeprices and had the backing of the banks,I know this is true. I worked for a national homebuilder for many years, could go on and on with this! Great show, would love to see you have some CEO's of banks and builders on your show with people who have lost their homes. Or, people that are about to lose their home and can the builders CEO's explain why prices of homes rose so dramatically!! Greed gone WILD!

    May 20, 2011 at 2:00 pm | Report abuse | Reply
  4. Ann

    First I must say that I am really attempting to like you and your program!!!!! You last evening show with James Wood and Andrew Sorking was somewhat interesting. HOWEVER, I am really sick of people like you, who either refuse to do your homework and explore the WHOLE background of the financial situation, but attempt to show yourself as a professional on the issue. First of all this situation started back in the 1970's, with Congressional legislation in regard to housing and over the years the laws were ammended. (You of course blamed BUSH). As for the banks yes, they are "slime-balls" in my eyes, (Esp. Goldman & Stanley, BA), but they were and still ARE allowed to do these activities by our Congress, who had their head in the sand, when they were advised as early as 2001 of the potential problems of the mortgage. When you have Congress that has NO ethics or integrity in either party and you have the financial world follow suit, what do you expect. Congress could have required a "claw-back" say for 2 years on bonus's, but this would be political suicide. As for your statement of giving it back to the taxpayers-lets get real here–the lawyers would and will take at least 30% and the rest would be "piddled" away on some other Federal or State government progrm.

    I suggest if you ARE really interested in THE BIG BOY BANKS (Goldman,Stanely) you should perhaps check their commodities interest, but that would be asking too much. Also you may want to check into HOW the banks make profits on foreclosures thru government programs. Probably TOO much work huh??????????????

    May 20, 2011 at 4:20 pm | Report abuse | Reply
  5. henry tanaka

    Executive compensation is merely the disbursing of loot.
    THINK!
    Stealing is the crime.
    Corporations are the criminals who appropriate America’s capital.
    The stock market, wholly owned by shareholders, is the scene of the thefts.
    The middle class are the victims. Mutual and retirement funds are simply intermediaries.

    Companies unjustly shift value from America’s piggy bank to subsidize corporate goals –
    Lavish executive compensation
    Legions of lobbyists
    Corporate profit growth that exceeds GDP growth
    Campaign funding as of 2010 thanks to the John Roberts Supreme Court

    The illicit transfer of funds from the masses to a few has created a huge wealth gap.
    Companies are crushing a democracy and building an aristocracy.
    This crime wave has impoverished the middle class and brought us to the brink of ruin.
    The retirement dreams of millions have faded.
    Ad nauseam.

    The thefts of shareholder value must be exposed, stopped, and punished.
    Please help our country. Alert the Administration and the FBI.

    May 21, 2011 at 7:10 am | Report abuse | Reply
  6. Alfonso

    Unfortunately, that list pretty much dereisbcd the entire country! I would add, Judge not, let ye be judged. For in the same manner you judge, you too shall be judged and the measure you use shall be measured against you. Matt. 7:1-2That applies to Mr. Cameron, Mr. Morgan, GLAAD and any of the rest of us.

    September 10, 2012 at 12:10 am | Report abuse | Reply

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