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Episode 744: The Last Bank Bailout

Neel Kashkari chopping wood.

Neel Kashkari oversaw the government's bailout of the banks in 2008.

And, he says, the bailout had lasting consequences that go far beyond finance.

"As a society we have a core belief, that's been passed down from generation to generation, in free markets," Kashkari said. "We violated that fundamentally when we bailed out the banks."

Now Kashkari is the president of the Federal Reserve Bank of Minneapolis. And he's come up with a plan he says will make future bank bailouts much less likely.

Music: "Spirit of 68" and "This Is Life." Find us: Twitter/ Facebook.

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