Double, Double Oil and Trouble | The Salad Oil Scandal
Oh My Fraud
00:00
American Express Stock Tanked by 50 %
Caleb: American express, their stock dropped by 50 % as a result of all this stuff coming out. He says two different investment houses that had loaned money to allies based on the warehouse receipts from ammocks were screwed beyond scrowed when allied declared bankruptcy. Caleb: It's kind of like what happened with arthur anderson, where people were just like, out, you did this. That's a huge overa sight. We can't trust your business at all. And so because of that, everyone freaked out for a much bigger reason than some random investment broker having bad loans.
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