“Fraud As a Business Model”, the slides from Tavakoli's presentation delivered today to the Federal Housing Finance Agency’s Supervision Summit.
From one of the slides:
• Investment banks – securities fraud
• Mortgage lenders – widespread fraud
• Rating agencies – junk science
• CDO “managers” – crash test dummies & accomplices
• Certain hedge funds – shorted CDOs they “managed”
• Bond insurers – money for nothing
• Regulators – poseurs and enablers
FHFA1282010
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