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very good educational film
Garry 2022-12-29 23:51:37
I always feel ashamed of my bachelor’s degree in economics, and so far I can’t tell the economic crisis in a straight line, but too big to fail has really made me understand a lot. Loans are packaged in packaged securitization, which makes the snowball bigger and bigger. We do live in a credit-based economic society. If the entire credit chain is broken, the entire economy cannot function. This is why the Secretary of the Treasury and the Chairman of the Federal Reserve pay so much attention to the dynamics of the big investment banks. Strength, persuasion, maybe something I've never been able to have, but I'm pretty safe.
Extended Reading
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Chris Flowers: Make sure Fuld's not keeping any bad news out of the mix.
Rodgin Cohen: It's "open kimono", to quote Dick.
Chris Flowers: There's a revolting image.
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Phone caller: Why didn't you guys head off this situation six months ago?
Michele Davis: Because the requisite magic wand wasn't available, Doug. But if we do find one, you will be among the very first to know.