Odd Lots The Odd Lots Variety Show
Oct 7, 2019
Guest
Sam Antar
Guest
Lee Buchheit
Guest
Brad Setser
Guest
Stephanie Kelton
Guest
Kevin McGrath
Guest
Merle Hazard
Sam Antar, former CFO of Crazy Eddie and convicted fraudster, shares his humorous insights on white-collar crime and trust issues in finance. Lee Buchheit and Brad Setser discuss the complexities of sovereign debt crises, focusing on Argentina and Venezuela's struggles. Stephanie Kelton elaborates on Modern Monetary Theory, challenging traditional economic concepts. Meanwhile, country-singing economist Merle Hazard entertains with campy songs about economics, blending humor and insight to make finance more accessible. A lively mix of serious discussions and lighthearted performances keeps the audience engaged!
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Episode notes
Crazy Eddie's Fraud
- Sam Antar, former CFO of Crazy Eddie, discusses his criminal past.
- He explains how Crazy Eddie, a seemingly successful electronics retailer, was built on tax evasion and fraud.
Distraction over Lies
- Distraction is more important than the lie when committing fraud.
- Distract auditors to prevent them from asking questions that expose the fraud.
Public vs. Private Fraud
- Overstating income as a public company yields better returns than understating it as a private one, even with higher taxes.
- Inflated income creates fictitious wealth, especially beneficial when owning most of the stock.
