If you haven't been paying attention to the Lehman hearings, you've been missing out on some high drama. It seems every day something else is revealed about Lehman that makes it look like it was rotten to the core. Today's installment is an opening statement from Bill Black, an econ prof and former S&L regulator from the late 80s. He spares no one when he takes people to task for the current crisis, and specifically the mishandling of it from a regulatory standpoint. Good stuff:
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wow. finally nice to hear someone tell it like it is.
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