In 1997 Rubin and Greenspan opposed regulating OTC credit derivatives. Rubin has backtracked from this position by now stating that derivatives pose severe problems. Rubin was chosen to be Obama's economic advisor. Ironically, Rubin now favors reform of the financial system.
Here is another "interested" guy from Goldman Sachs who worked for de-regulation but who sees himself as capable of fostering a stronger financial system in the future but he cannot see his own actions as part of the reason for the financial collapse of 2008.
In the video below, Janet Tavakoli says:
"...Robert Rubin should be answering questions before the justice department instead of spewing forth garbage on this panel."
The panel to which she is referring was called the Buttonwood Gathering and comments on that meeting can be found here.
Janet Tavakoli on Bank Foreclosure Fraud from David Fry on Vimeo.
The video found on the ETF Digest with David Fry interviewing Janet Tavakoli can be seen here
3 COMMENTS:
Wall street speaks out of two sides of its mouth
Watch: Taibbi on 'Parker/Spitzer'
http://www.rollingstone.com/politics/matt-taibbi/blogs/TaibbiData_May2010/232182/83512
Taibbi’s Takedown of ‘Vampire Squid’ Goldman Sachs
But in reality, it's the unpaid bills that are incidental and the lost paperwork that matters. It turns out that underneath that little iceberg tip of exposed evidence lies a fraud so gigantic that it literally cannot be contemplated by our leaders, for fear of admitting that our entire financial system is corrupted to its core — with our great banks and even our government coffers backed not by real wealth but by vast landfills of deceptively generated and essentially worthless mortgage-backed assets.
You've heard of Too Big to Fail — the foreclosure crisis is Too Big for Fraud. Think of the Bernie Madoff scam, only replicated tens of thousands of times over, infecting every corner of the financial universe. The underlying crime is so pervasive, we simply can't admit to it — and so we are working feverishly to rubber-stamp the problem away, in sordid little backrooms in cities like Jacksonville, behind doors that shouldn't be, but often are, closed.
http://www.ritholtz.com/blog/2010/11/vampire-squid-courts/
Thank you, Anonymous(2), for the links and information. I like Matt Taibbi as he is not afraid to say what he thinks and then backs that up with facts.
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