CNBC’s Dylan Ratigan, host of ‘Fast Money’ and ‘Closing Bell’, tells TSC’s Debra Borchardt that Dick Fuld isn’t the only bank CEO to be blamed for the financial meltdown.

Category: Bailouts, Corporate Management, Video

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4 Responses to “Dylan Ratigan: Fuld Was Not Alone”

  1. blackbox says:

    I like Dylan, but he should expand his list of guilty parties even further to include: hedge funds, private equity, and media (CNBC gasp!)

  2. leftback says:

    I bet Dylan could tell a few good stories about CNBC after he has had a few.

  3. VoiceFromTheWilderness says:

    One of the ways to realize the con that is at the heart of the ‘free market’ ideology is to watch the discussions around executive pay and responsibility. In good times, when companies are raking in the billions, executives are directly responsible, and ‘deserve’ all the reward for all their glorious works. In bad times, when previous gains evaporate, suddenly it’s the unions fault, or ‘washington’, or ‘the system’, if indeed anyone talks about it at all.

    One of the ways we can recognize the disease at the heart of our system is in the behavior of reporters, who are completely unable to remember events from one day to the next, or recognize cause and effect. The fact that very few mainstream papers have made any kind of effort to talk about Hank Paulson’s involvement in this economy — from begining to end — is proof all by itself of the true role of journalism. The desperate need that reporters are once again showing, to find a small list of people to blame, is also proof of this same role: chear leaders for the status quo.

    The problem of course goes much deeper than executive pay, or silly journalists. These issues are only flags, indicators of what lies beneath. And that is? A complete lack of honesty or willingness to face reality on the part of an entire culture. People blaming the media, in a capitalist system, are idiots. Don’t like the media, don’t consume it. Blaming executive pay is irrelevent, because right below the CEO’s is an entire 90 story building stuffed to the gills with people who desperately want to play the same game. We don’t hold the real agents accountable because the real agents are too big — vast swaths of society — and more importantly because we desperately want to be them.

    This is a nice piece, and he makes good points, though the interviewer is pathetic. The problem is that even this way above average insight is nowhere near enough to actually change how we as a society are going to get through the crisis (or catastrophe) induced, in part, by the people they are talking about. Who thinks that Hank Paulson is going to do anything other than ride out of washington on a magic carpet? The right wing lunatics are already gearing up to blame Obama for the coming collapse. That should muddy the waters enough to keep them tanks, and doughnuts for the forseable future huh?

    I guess if you are in one of the tanks, that sounds like a good deal. But some of us actually enjoyed the country that was the United States of America, and are quite clear on who killed it.

  4. VoiceFTW:

    with this: “But some of us actually enjoyed the country that was the United States of America, and are quite clear on who killed it.”

    Would you be so acute, as to sally-forth an answer to that, above, enigma?