Janet Tavakoli calls em as she sees em when it comes to the fraud in the financial industry. She doesn’t hesitate to take on the big guys. This is a rather long interview but well worth the time.
Janet Tavakoli on Bank Foreclosure Fraud from David Fry on Vimeo.
She said one thing that jumped right out at me – the big banks are not just too big to fail they are too big to manage. That’s the real problem. The bank CEOs may be making millions a year to manage the banks but the banks are simply too big for them to manage. When the CEOs of Goldman Sachs, JP Morgan, Countrywide, Bank of America and Citigroup sound clueless it’s because they are. The big banks are so big and so complex that the CEOs can not possibly know what’s going on so they can’t possibly earn their big salaries. Just one more reason why they should be broken up.
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Ron can also be found at Newshoggers.