Filmmaker Charles Ferguson, who won the Best Documentary Oscar this week, for Inside Job says people should be going to prison for what transpired during the financial crisis but are not. He was interviewed about this subject by Speakeasy from the WSJ after he used his acceptance speech at the Academy Awards as a platform to make this claim. I have not seen the documentary yet but plan on doing so, and I agree with Mr. Ferguson. I believe there was quite a bit of malfeasance on the part of people in financial institutions leading up to and during the meltdown.
As I have stated before when speaking about the Madoff scandal, you can look at it in one of two ways. Either there were certain people in certain financial institutions that deep down knew or suspected this was happening and/or were actively participating, OR, the bankers (especially the sales and risk management folk), investment gurus, analysts and other drones at the regulatory agencies were incompetent and uninformed. Either way, it doesn't fill one with confidence about our financial system.
As I have stated before when speaking about the Madoff scandal, you can look at it in one of two ways. Either there were certain people in certain financial institutions that deep down knew or suspected this was happening and/or were actively participating, OR, the bankers (especially the sales and risk management folk), investment gurus, analysts and other drones at the regulatory agencies were incompetent and uninformed. Either way, it doesn't fill one with confidence about our financial system.
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