The "Too Big To Fail" FAIL

Two years after a massive government bailout that pulled the financial industry back from the abyss, lending is tight and job growth is barely moving. Yet the market for over the counter derivatives is again booming.

Long-time Newsweek economics correspondent Michael Hirsh suggests that Barack Obama's economics team helped the big banks become big winners by bailing them out without holding the institutions accountable to get the economy back on track.

So is it back to business as usual for Citigroup, Bank of America and the rest? Hirsh talks about the reforms that have been put in place and the lack of an ideological debate over the intersection between finance and politics.

Hirsh is currently Chief Economics Correspondent with the National Journal.

LISTEN: MICHAEL HIRSH - CAPITAL OFFENSE