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Posted: October 27, 2009 11:44 AM

HuffPost's Ryan Grim On Banks: 'Critical Time' In History of Financial Reform (VIDEO)

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HuffPost senior congressional correspondent Ryan Grim joined the Morning Meeting panel today to discuss the news that hundreds of protesters have descended upon Chicago to disrupt the annual meeting of the American Bankers Association and let Wall Street know that taxpayers are unhappy with how they have been handling our money.

Grim said,

what the debtors' revolt, and what this protest out in Chicago shows you, is that we really are at a critical time in the history of financial reform. Over the course of the last couple hundred years, this is something that has been happening in America every 50 years or so... The American people are pretty comfortable with wealth and capital accumulation as long as their own standard of living is increasing and as long as the banks are following some rules. Whenever they start breaking those rules, that's when you see these types of uprisings of discontent. Now the question will be has capital gotten so strong that it'll be able to fight off the reforms that are the historical pattern.

WATCH: (Grim starts at 5:30)