"The Best Way to Rob a Bank is to Own One."    That's just brilliant. 

The Business World seems to be organized fraud in several sectors, not just banking.  When will someone go after the integrated mortgage lenders vertically integrated into the big home builders?  Weren't many of these bad home loans issued by the very people that built them?

Isn't there a systemic ethical issue with creating an "asset" and then generating the sale based on poor verification, and then shipping the risk on to banks while putting the coin in your own pocket?  The manufacturers of assets should not be allowed to issue loans or credit, make profit and then pass the risk on to a third party.

Enjoying the veil lifting...

http://www.usatoday.com/money/economy/housing/2007-04-02-home-builders-usat_N.htm

 

 

jeffrey wooten 350 days ago

An excellent interview; very insightful.  Is there a way to reinstate the Glass-Stegall Act or create a new one to address the same issue? When there is a cancerous growth on an otherwise healhy person, the first diagnosis is to excise that growth.  Those failed CEOs, CFOs, and other senior officers of the failed institutions need to be "tarred, feathered, and set out on the rails" WITHOUT any bonus packages!!! It has become "poliically correct' to reward failure.  The American people have a right to know exactly who and what caused this debacle, and they should have a major say in how to correct it buy choosing/electing knowledgeable people of integrity  and morals, both severely lacking in our current leaders, to oversee the process.  Just throwing more money at this will not solve it.  You don't build a house on shifting sand unless you WANT it to fall. The American people are willing to put up with just about any hardship, just don't mak fools of them, and then tell them that it's for their own good!   We're NOT that gullible.  NOW is the time to start fixing the problem; nothing will be gained by a wait-and-see attitude.

Barbara Delnero 350 days ago

These bankers need to go along with Tiny Tim and anyone else that knows that the people were and are being lied to! Today is not soon enough.

Mike 349 days ago

Cody,

I tried to respond to you before today's HH but I saw your feedback request too late.

First, I am not surprised at yet another scandal that is "revealed" in the ongoing corruption between big business and government officials.  One of the questions that I was going to ask would be: What really happened during the talks with the leading bank CEOs and the president?  We the american people have a right to know.  Better yet, just go by the principles and laws(Constitution) that this great country was founded on..............................GET GOVERNMENT OUT OF THE PRIVATE SECTOR!  I know that you have stated that Aristotle was one of your favorite economist.  One of my favorite economist is Adam Smith.  As Mr. Smith has stated, the government should have a hands off approach in areas that does not require their intervention (Laissez-faire) in our society. I too majored in Economics / Finance at college. Based on the theory of economics and common sense, the events that we see unfolding is a nightmare. 

Second, I must say that your guest co-anchor today appeared to be a little "testy".  In spite of what happens, you have millions of people who appreciate your voice and please do not comprimise your beliefs.  Since we can't please and agree with everyone, keep fighting the good fight.  You have a unique style that is not typically displayed on commentary shows.  People can relate to your viewpoint and the delivery of your statements. 

Lastly, thank you for your resources that you provide to the public to have a voice.  If you can inform just one person, I would consider your efforts a great success!

Stay strong and good luck!

ProCapitalistGirl7 349 days ago

Bingo! Another wake up call for American people! This should be broadcasted on the national TV every day and people need to learn the financial crisis like they learn the plan crash. Find out who caused the financial 9/11 and who those financial terrorists are - American people should send those financial terrorists to jail. This is the only way to restore the confidence and the trust in this country.

I would strongly suggest Fox Business to work with Mr. Black and offer a series of programs detailing the cause of the financial 9/11, and let the American people understand the truth behind this financial 9/11, and punish those financial terrorists in order to keep our country safe.

I will not miss the Happy Hour for any second today.

 

 

BWright 348 days ago

Another point, American people will not fight back till they learned and understood the truth behind this financial 9/11, and people should understand that there is no way back for those "financial terrorists" who kidnapped this country with power and money - they will continue to bailout those bank terrorists, as keep giving them our taxpayer’s money, like they said "there is no sound economy till we have a sound financial system. Does American people understand? they are telling us that if we don't bail them out, we will continue to suffer the consequences caused by them.

 This is the best TV interview since last September that Mr. Black is telling every truth about this crisis and Fox Business should do the same interview with Mr. Black.

BWright 348 days ago

Another pin prick in the dam of lies!

Get Eric to recognize it!...but be calm...smile

Destruction of the middle class rolls on

bignflnut 348 days ago