Ace Greenberg on Charlie Rose (2004, 2008)
By Barry Ritholtz - November 16th, 2008, 3:00PM
Fascinating pair of discussions with the former head of Bear:
10/22/2008:
01/02/2004
Macro Notes
Fed Vice Chairman Kohn/It still is someone else’s faultPeter Boockvar
I know its late Friday and I'm sorry for the rant but a headline across the tape forced my hand. From a speech on June 25th to the BIS that the Fed officially released today, Fed Vice Chairman Kohn said that "the root cause of our problems was the underpricing of risk as the financial sector interacted with nonfinancial sectors" and that "leverage was a symptom rather than a cause of the underlying crisis." He has a Ph.D and I don't but I want to correct him that easy money policy under Greenspan that had the fed funds rate at...
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November 16th, 2008 at 4:19 pm
Is he for real? I would like to hear your comments, Barry, because it seems this guy is off in dreamland with his idea that nothing is really wrong and nothing wrong was done. I almost smashed out the screen listening to MR GREENBURG, but decided I better stop listening and just backed out.