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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: ChanceIs8/17/2009 12:55:05 PM
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Larry Summers - no meaningful skills.

Everybody should listen to this video with William Black, a major figure in cleaning up the S&L disaster. Amongst a plethora of incredible revelations and insights about S&L - and today's crisis - he just wails on Summers, Greenspan and Geithner. WRT a lot of the "experts" he suggests - that these clowns will continue to give bad advice because they won't admit that all the theories they espoused over their careers are just plain wrong. Your are 55 with a track record of disaster. Hey...I have been wrong all of my life...hire me into an executive position. Black says....'Larry Summers has no meaningful job skills.'

The title of this interview is spot on. Be very wary of it. Referenced through Denninger last night. Long interview but worth every minute. Sit with a vomit bucket next to your desk. The corruption exposed is simply unbelievable. Black says that he had incredible heat put on him - short of murder threats - from government and private individuals - when he started turning over rocks during S&L:

Don't Ask: Don't Tell

This Economic Disaster

Video - Lecture By William K. Black

William K. Black, the former litigation director of the Federal Home Loan Bank Board who investigated the Savings and Loan disaster of the 1980s, discusses the latest scandal in which a single bank, IndyMac, lost more money than was lost during the entire Savings and Loan crisis.

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