On Wed, March 25th, 2009, Terry Gross interviewed Frank Partnoy: a master of the American Finance System.
This interview was very eye opening. I've was surprised to find that President Bill Clinton deregulated the derivative markets on Christmas Eve 2000, by signing the repeal of Glass-Segal.
To hear a former trader tell us that he doesn't invest in such securities, and that most of these speculators on Wall Street invest in U.S. Treasury Bonds, showed a hypocritical cynicism that undercuts the "free market" capitalists at the knees.
How much greed does it take to kill a nation? Read FIASCO and find out.
Friday, March 27, 2009
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Never Forget
