Davidowitz: Credit Crisis ‘A Gigantic Ponzi Scheme, Lies And Fraud’
Below is a very entertaining interview with Howard Davidowitz on financial reform and the credit crisis with Aaron Task and Henry Blodget of Tech Ticker (hat tip Scott).
Davidowitz says don’t expect any substantive changes, especially when the underlying problem from the credit crisis was "a massive fraud" and nothing is being done about it.
Take a look.
Davidowitz also talks about the anti-regulatory bona fides of current top policy makers and the incestuous world of the financial services industry and its regulators. He sees this as part of the problem. For more in-depth coverage on these issuesregarding Bear Stearns and AIG, also see:
- In U.S. Bailout of A.I.G., Forgiveness for Big Banks – NYTimes.com
- Fed Made Taxpayers Junk-Bond Buyers Without Congress Knowing – Bloomberg.com
About Edward Harrison
- Mortgage fraud indictments result from media investigation 17 Mar 2010
- 60 Minutes – Pigeon Fever and Ponzi Schemes on Wall Street 19 Feb 2010
- Presidential debates crucial in test of economic leadership 18 Sep 2008
- The UK is ground zero in the credit crisis 2 May 2008
- George Soros: the credit crisis of 2008 11 Sep 2008
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