A very interesting interview with an ex senior fraud regulator from the US throwing light on the financial crisis and the role of outright fraud in creating the current financial crisis. If this guys take on things is correct we should be lining up many of the senior CEOs for long prison sentences. It also reveals the perils of governments trashing regulatory systems. This one is worth watching all the way through.
"A Man's a Man for all that!" - Rabbie Burns
Sep 30, 2010
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1 comment:
Of course he isn't wrong, just incomplete. There is no Fannie Mae, no Freddie Mac and no Community Reinvestment Act in his concept of banking. There was no scoring by the Federal Reserve of banks based on their ability to hand out loans to minorities.
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