If you're not old enough to remember (like me) you really should read about the Keating Five at http://en.wikipedia.org/wiki/Keating_Five
What it boils down to is a group of bankers solicited government to change banking regulations for their pecuniary benefit. It is said to have been the root of the Savings & Loan crisis of a few decades ago.
So what are we going to call the group of idiots behind the meeting with Paulson & Cox wherein leverage was taken from 7:1 to 30:1?
And who were the attendees at that meeting? Anyone know where to get meeting minutes and a list of attendees?
What it boils down to is a group of bankers solicited government to change banking regulations for their pecuniary benefit. It is said to have been the root of the Savings & Loan crisis of a few decades ago.
So what are we going to call the group of idiots behind the meeting with Paulson & Cox wherein leverage was taken from 7:1 to 30:1?
And who were the attendees at that meeting? Anyone know where to get meeting minutes and a list of attendees?