Discussion: Investigations of Financial Tycoons

Work related event on 8th so have to postpone by a week


Frontline: Untouchables

We'll discuss this documentary as well as two specific scandals:

1. The Libor scandal in Europe, and 

2. The Goldman Sachs Aluminum storage scandal in Detroit.

I will post more materials on these two, but I encourage you to do your own research and put a narrative together, i.e. if prosecution is or is not justified.

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  • Pat G.

    Sorry for bailing at the last minute, but what I had for lunch really isn't agreeing with me and I need to go home. Sorry!

    January 15, 2014

  • Dyutiman D.

    I am in the middle, with two tables put together

    January 15, 2014

  • Bill

    In early 2003, before we invaded Iraq, we sent investigators to find WHERE Iraq's WMD were. Note that our investigators were not trying to determine WHETHER these WMD existed, they assumed they existed and were just trying to find out WHERE they were. When they did not find them, we concluded that the WMD were well-hidden, and invaded, which turned out to be a catastrophic mistake.

    Similarly, this Frontline special goes looking for WHO the "big fish" Wall Street bankers who perpetrated fraud were, not WHETHER any such bankers existed.

    Before the meltdown, 95% of the American people, liberal and conservative, including the politicians, the home buyers, and Wall Street investors, believed that real estate values would rise forever. Any time the conventional wisdom is that pervasive and that wrong, the consequences can be catastrophic.

    Due to this widespread misunderstanding about real estate, there was a bubble and when it burst, the consequences were catastrophic -- more

    January 14, 2014

    • Bill

      @Pat: combining "Who" and "If" in a single search is OK, but that's not what Frontline is doing at all. They are totally assuming the "if" and focusing on the "Who" -- and when the trail leads nowhere, they draw the conclusion that something very sinister is going on. NEVER do they say "Maybe none of the big bankers are guilty of fraud.".

      January 15, 2014

    • Pat G.

      @Bill ahh, then you have a fair criticism then.

      January 15, 2014

  • Pat G.

    With the new time, I can make it. Cool!

    December 31, 2013

  • Agnes

    Is it possible to have this discussion in another location? Specifically, could the same people meet up again some where in Northern New Jersey on a weekend? As a former investment management professional, I miss discussing such topics. My interests are in politics, global economies, labor relations issues. I also hold two master's of arts -- Political Science & Employment and Labor Relations? Is anyone interested?

    December 27, 2013

  • aline

    I would like to listen

    December 27, 2013

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Rafaël

We just grab a coffee and speak French. Some people have been coming every week for months... it creates a kind of warmth to the group.

Rafaël, started French Conversation Group

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