Tag Archives: Robert Rubin

Kathleen Parker in The Washington Post: The economic crisis was an ‘inside job’

The most forgiving American will want to seize a pitchfork and march on Wall Street. Or Harvard Square. Or in front of the White House. There are so many despicable parties, it’s hard to pick a favorite. Is it time to reconsider the Axis of Evil?

The article is actually a review of the film Inside Job with a few pertinent points:

  1. assigning blame to either Democrats or Republicans is pointless
  2. many investment bankers knew the mortgage loans they were selling, were junk
  3. the cosy relationship between Wall Street and Ivy League academia is eye-opening, i.e. revealing conflicts of interest
  4. notably missing from the film, declining to be interviewed, are: Larry Summers, Tim Geithner, Hank Paulson, Alan Greenspan and Robert Rubin.
  5. “Obscene” is the word that comes to mind: the game has been rigged so that only a few were in positions to get rich at the expense of the middle class, not just here but globally.
  6. the only remaining question is why some of these people aren’t being prosecuted for fraud or at least shirking fiduciary duty.

Another excellent film review is here.

Called “the most in-depth look” on MOXNEWS.COM, Charles Ferguson is being interviewed here, making the following points:

  • extremely unethical behaviour
  • unbelievably unlikely that there wasn’t also criminal fraud
  • but not a single seniour executive has been prosecuted.

Professor William Black comments and suggests the following:

  1. replace bank regulators
  2. end FBI partnership with MBA
  3. fire Eric Holder, the current Attorney General.

What can we do now?

  1. fire Geithner, Sumers and the heads of the banking regulatory agencies
  2. get people who believe in prosecution
  3. make a Top 100 list of most serious cases instead of the least serious ones.