Jim Chanos – Financial Frauds and Manias: Past, Present, Future (EP.02)
Infinite Loops
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Why Do You Think Nobody Wants to Be in Jail With the Financial Crisis?
I wonder to what extent any senior executives who would have been put in the docket, under oath whatever, would have produced phone records of conversations with government officials. I suspect there was a lot more involvement behind the scenes in our government. The core of the fraud in the financial crisis was mismarking sitions. And i think the market would have gotten an early warning that something was wrong here because all these guies were reporting record profits up through o seven.
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