Bailout Nation

Jun 19, 2009

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Barry Ritholtz spoke about his book Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy (Wiley (May 26, 2009). He spoke on the origins of the severe decline in the national economy. Mr. Ritholtz chastised what he called the misguided philosophies of many players, including Federal Reserve chairmen, .. Read More
Barry Ritholtz spoke about his book Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy (Wiley (May 26, 2009). He spoke on the origins of the severe decline in the national economy. Mr. Ritholtz chastised what he called the misguided philosophies of many players, including Federal Reserve chairmen, presidents, senators and Treasury secretaries. He responded to questions from members of the audience. Mr. Ritholtz operates the financial blog ritholtz.com and is a commentator on CNBC and author of the "Apprenticed Investor" column at TheStreet.com.

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TRANSCRIPT

TIME SPEAKER TEXT
00:00:29 Unidentified Speaker THANK YOU VERY MUCH. EVERYBODY CAN HEAR ME? WHENEVER I SPEAK TO A CROWD ABOUT WHAT'S BEEN GOING ON...
00:37:21 Unidentified Speaker IT APPARENTLY BEGINS WITH COMPANIES AND WE HAVE SEEN SO MANY NEFARIOUS CEOs WE DON'T MAKE ANYTHING...
00:37:43 Unidentified Speaker THAT'S A TERRIFIC QUESTION AND THERE'S TWO WAYS TO ANSWER. FIRST BY THE WAY WE MAKE A LOT OF STUFF....
00:43:46 Unidentified Speaker WHAT DO YOU THINK ABOUT THE FACT THAT FEDERAL RESERVE SYSTEM, CENTRAL BANK WHICH IS ESSENTIALLY A...
00:44:07 Unidentified Speaker PART OF THE PROBLEM IS THEY WERE OF THE REGULATOR. UNDER ALAN GREENSPAN THEY DISAPPEARED IN FACT GREENSPAN...
00:49:19 Unidentified Speaker I HAVE A QUESTION ABOUT GLASS-STEAGALL. WHAT DO YOU THINK THE LIKELIHOOD OF THIS BEING REINSTATED IS...
00:49:35 Unidentified Speaker YOU KNOW, I CONTINUALLY -- THE BEST LINE OUT OF THE OBAMA ADMINISTRATION WAS RAHM EMANUEL SAID NEVER...
00:52:35 Unidentified Speaker CURRENTLY THERE IS A LOT OF DISCUSSION ABOUT THE GOVERNMENT GETTING INVOLVED WITH CEO PAY PARTICULAR...
00:53:03 Unidentified Speaker 27 BILLION WENT TO GOLDMAN AND ANOTHER 70 BILLION WINTER 20 OVERSEAS BANKS. AGAIN ONE OF THE FUNNY...
00:56:50 Unidentified Speaker AND BOB MOMENTS BEFORE YOU TOOK THE MICROPHONE I HAD AN OPPORTUNITY TO LOOK AT YOUR BOOK AND IT SEEMS...
00:57:02 Unidentified Speaker A LITTLE BIT.
00:57:04 Unidentified Speaker WHICH IS AT ODDS WITH ALL THE KING'S HORSES AND ALL THE KING'S MEN IN WASHINGTON AND THE FEDERAL RESERVE....
00:57:13 Unidentified Speaker MY FAVORITE EXAMPLE AND I WILL GIVE YOU TWO, CHRYSLER IN 1980 AND THEN BEAR STEARNS AND CO FOR WORD...
01:05:12 Unidentified Speaker I AM NOT IN THE FINANCIAL BUSINESS. I AM A RETIRED ENGINEER AND MY QUESTION REALLY IS A LOT OF THESE...
01:05:23 Unidentified Speaker YES.
01:05:25 Unidentified Speaker DO THE BUSINESS SCHOOLS HAVE ANY RESPONSIBILITY TO TEACH SOMETHING ABOUT WHAT BUT HAPPEN? I AM NOT...
01:05:37 Unidentified Speaker YES AND NO. THE PROBLEM WITH A LOT OF THE ACADEMIC COMMUNITY IS THERE TENURED AND I JUST HAVE THIS...

NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.

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