| 00:00:19 |
none, -
LEFT EMPLOYEES AND GOVERNMENT INVESTIGATORS DEMANDING TO KNOW HOW THE C.E.O.S DESEEFED EVERYONE INTO BELIEVING THAT THEIR COMPANIES WERE SUCCESSFUL...
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| 00:02:32 |
Unidentified Speaker, -
DON'T GET DISASTERS FROM IGNORANCE, YOU GET DISASTERS FROM THE THINGS THAT YOU THINK YOU KNOW WHICH AREN'T TRUE. AND WE THOUGHT WE KNEW A NUMBER OF...
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| 00:24:23 |
Unidentified Speaker, -
WE ALL DEPENDENT [INAUDIBLE] >> STRUCTURE AND INDIVIDUALS ARE BOTH IMPORTANT AND THEY'RE BOTH REINFORCING IN POSITIVE AND IN NEGATIVE DIRECTIONS....
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| 00:24:48 |
Unidentified Speaker, -
HATE INDEPENDENT REGULATORY AGENCIES. AND NO ONE LIKE ED GRAY COULD HAVE ARISEN IN AN EXECUTIVE BRANCH AGENCY AND SAID NO TO ALL THESE THINGS AND HAVE...
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| 00:29:18 |
Unidentified Speaker, -
SEE HOW THEY PAN OUT. I MEAN, WE OBVIOUSLY ARE IN A SITUATION IN WHICH THE F.C.C. CHAIRMAN WAS REMOVED BECAUSE HE WAS VIEWED AS TOO VIGOROUS. WILLIAM...
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| 00:29:30 |
Unidentified Speaker, -
BUT IN A SENSE I'M BEING UNFAIR AND I SHOULD COME BACK TO YOUR QUESTION. WILLIAM DONALDSON WAS NOT REMOVED. HE RESIGNED. NOW THE ADMINISTRATION MADE...
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| 00:32:10 |
Unidentified Speaker, -
THEY USE MERGER ACCOUNTING. >> THE QUESTION WAS, I SPEND A GREAT DEAL OF TIME TALKING ABOUT GOODWELL MERGERS AND THE ACCOUNTING ASPECTS OF THAT IN...
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| 00:32:35 |
Unidentified Speaker, -
OF ACCOUNTING ABUSE WERE ACTUALLY CLEANED UP. I WANT TO BE, IN FAIRNESS TO THEM -- PROFESSIONAL ACCOUNTANTS, AS A PROFESSION THEY HAVE OFTEN BEEN...
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| 00:34:32 |
Unidentified Speaker, -
THE G.S.C. -- THE QUESTION IS ABOUT THE G.S.C. AND THEY ARE THE GOVERNMENT SPONSORED ENTERPRISES. AND IN THE HOUSING CONTEXT WAS THE NATURE OF THE QUESTION,...
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| 00:34:44 |
Unidentified Speaker, -
LESSONS THERE? IT'S ANOTHER AREA WHERE WE DIDN'T LEARN THE LESSONS AND THEN WE HAD TO LEARN THEM ANEW AFTER THE SCANDALS. IN THAT SITUATION WE SET UP...
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| 00:38:20 |
Unidentified Speaker, -
ABOUT TODAY TO GET AHEAD OF POTENTIAL FRAUD? >> WELL, BEHIND IT, OF COURSE, BECAUSE THE BUBBLE HAS BEEN MANY YEARS IN THE MAKE BEING. BUT, YES, THE...
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| 00:38:44 |
Unidentified Speaker, -
BUBBLES. BUT DURING BUBBLES THEY'RE WONDERFUL BECAUSE WE ALL OWN HOMES. AND OUR HOMES ARE GOING UP IN VALUE. WHAT WOULD WE THINK IF SOMEONE DELIBERATELY...
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| 00:41:51 |
Unidentified Speaker, -
WONDERFUL THING. AND THAT IT WOULD BRING ALL KINDS OF
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| 00:41:55 |
Unidentified Speaker, -
WONDERFUL RESULTS. AND IT PRODUCED A DISASTER INSTEAD. NOW YOU HAVE TWO CHOICES IN THAT CIRCUMSTANCE. YOU CAN SAY, I'M SORRY, I MISLED YOU. I WAS WRONG....
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| 00:46:11 |
Unidentified Speaker, -
IF HINDSIGHT WAS ACCURATE, AND BITE WAY, I ARGUE IN THE BOOK THAT IT ISN'T. WHAT WOULD WE LOOK FOR THEN DURING THE SAVINGS AND LOAN DEBACLE IF WE...
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| 00:46:29 |
Unidentified Speaker, -
FOR SAVES AND LOANS THAT WOULD HAVE THE CHARACTERISTICS THAT THEY WERE LIKELY TO FAIL AND WE WERE VERY EFFECTIVE IN IDENTIFYING THOSE IN ADVANCE BY...
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| 00:49:57 |
Unidentified Speaker, -
DIDN'T. THERE WAS ACTUAL AUTHORITY UNDER THE FOR REAL LEGISLATION IN 1989. BUT IF I COULD DO
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| 00:50:07 |
Unidentified Speaker, -
AN ANSWER SIMILAR TO -- PERHAPS GOING TO WHERE YOU'RE GOING MOST -- DANNY WALDECIDED NOT TO ELECTRICITYATE INSTITUTIONS EVEN WHEN IT'S CHEAPER TO DO THAT....
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| 00:52:25 |
Unidentified Speaker, -
IF YOU LOOK, IT WOULD BE ON THE AVERAGE OF ABOUT 99.2% OF ALL DEPOSITS IN A FAILED S AND L. WERE
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| 00:52:35 |
Unidentified Speaker, -
INSURED AND SO THERE ISN'T MUCH UNINSURED MONEY IN
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| 00:52:40 |
Unidentified Speaker, -
THE SAVES AND LOAN, PARTICULARLY IN THAT ERABECAUSE THEY
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| 00:52:43 |
Unidentified Speaker, -
KNEW IT WAS INSOLVENT AND YOU WOULD BE NUTS TO KEEP MUCH MONEY IN AN UNINSURED ACCOUNT. BANKS, BIG BANKS ARE DIFFERENT. THEY HAVE LOTS OF UNINSURED...
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| 00:53:52 |
Unidentified Speaker, -
ISSUE IN THE PRESIDENTIAL CAMPAIGNS. AND THE REASON IT DIDN'T IS THE PEOPLE IN GLASS HOUSES PROBLEM. THE FURTHER REASON THOUGH, AND THIS IS WHAT...
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| 00:54:07 |
Unidentified Speaker, -
DEMOCRAT SITTING IN SPEAKER WRIGHTS OFFICE, IF YOU GO BACK IN TIME, THIS IS WHEN WE MEET WITH HIM, FEBRUARY 10, 1987. THERE HAD BEEN A SERIES OF SCAND...
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| 00:55:42 |
Unidentified Speaker, -
SET UP AN INSENS CENTIVE FOR FRAUD BY SETTING UP GOVERNMENT STRUCTURES WHERE THE EXECUTIVES IN THE CORPORATIONS GET LOTS OF MONEY WHEN THE STOCKS...
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| 00:56:17 |
Unidentified Speaker, -
THE FOLKS WHO CONTROL THE JOURNALS WILL NOT APPROVE ARTICLES UNDER PEER REVIEW THAT SAY THINGS LIKE THIS AS PART OF THE ANSWER, BUT OTHER PEOPLE WON'T...
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| 00:58:56 |
Unidentified Speaker, -
ANYBODY WHO WANTED [INAUDIBLE] .
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| 00:59:00 |
Unidentified Speaker, -
DO YOU EVER SEE THE PROFESSION HAVING SOME FINDING ON THIS
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| 00:59:03 |
Unidentified Speaker, -
KIND OF ACTIVITY? >> YES. THE QUESTION IS ALAN
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| 00:59:06 |
Unidentified Speaker, -
GREENSPAN AND GEORGE BEENSTEN WERE VERY ACTIVE ON BEHALF OF LINCOLN SAVINGS IN ARGUING AGAINST REREGULATION. 6 AND HAVE THEY EVER DONE? NOT ONLY...
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| 00:59:24 |
Unidentified Speaker, -
MAYA CULPA THEY PAID NO PRICE AT ALL FOR BEING AS WRONG AS YOU COULD. ALAN GREENSPAN WROTE A LETTER SAYING LINCOLN SAVINGS POSED NO FORESEEABLE RISK...
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| 01:01:53 |
Unidentified Speaker, -
IN CORPORATE AMERICA? >> THE QUESTION IS ARE -- SHOULD WE BE CONSIDERING WHAT, IF ANYTHING, THE MAINSTREAM ECONOMISTS WHO PRESENT THESE VIEWS AND...
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| 01:02:16 |
Unidentified Speaker, -
PROVIDING. AND THAT IS, YOU KNOW, THE THRUST OF YOUR QUESTION I FEAR IS CORRECT. THEY POSE VALUE FOR THE POLICIES THAT THE POLITICAL FOLKS BELIEVE...
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NOTE: The transcript for this program was compiled from uncorrected Closed Captioning.