Bankruptcy

Wall Street: Fraud, Lies and a Ponzi Scheme

By mcbride

Wow, where does one begin to describe this interview/article?  Howard Davidowitz of Davidowitz & Associates shares his thoughts on the situation which created the Wall Street crisis (he asks: why have the accountants who were paid 25 million in fees and signed off on the fraudulent values of the derivatives not been sued?);  the proposed regulatory bill (?by the way, Chris Dodd has said we will find out how it works later?); regulators (?now we?re putting in more regulators, they can?t regulate anything?); the AIG bailout (182 billion of bailout money was funneled to Goldman and other brokers and banks); the government architects of the bailout (former Goldman top executives who owned Goldman stock at the same time as creating the AIG bailout); and the administration (?this is the most incompetent administration of my lifetime?).   

Here is a link to this highly watchable video interview:  http://finance.yahoo.com/tech-ticker/%22a-gigantic-ponzi-scheme-lies-and-fraud%22-howard-davidowitz-on-wall-street-514236.html?tickers=XLF,AIG,GS,JPM,BAC,C,FNM&sec=topStories&pos=9&asset=&ccode .

 Michael

Full post as published by Texas Lawyer Blog on July 01, 2010 (boomark / email).