Financial Crisis Inquiry Commission Chairman Phil Angelides talks about the fraud behind the financial meltdown and why Washington seems to be ignoring the problem.
Only on (Oscar Winning) Film
Taking the stage to accept an Oscar for best feature length documentary Sunday, “Inside Job” director Charles Ferguson stuck to his film’s topic.
“Forgive me,” he said. “I must start by pointing out that three years after our horrific financial crisis caused by massive fraud, not a single financial executive has gone to jail, and that’s wrong.” The crowd erupted in cheers.
In his documentary, Ferguson blames the crisis on out-of-control Wall Street financiers, lax regulators and business school and economics professors who lauded questionable financial industry practices while taking home millions from Wall Street firms.
|True Crime Story|
Audio Embed: BBC, PRI & WBUR's Here & Now 2/28/11,
Intro: Monica Brady-Meyerov, Interviewer: Robin Young.
Call to ARMS*
Despite tough new rules put in place to prevent the types of deals that brought on the sub-prime crisis, consumers are still seeing mortgage advertisements with promises like “appraisals may not be required,” “no closing costs,” and “no income verification.” *Adjustable Rate Mortgages come with a built-in bomb that guarantees an explosive rate hike, or a churning market with a bonanza of exorbitant fees.
AnnaMaria Andriotis of SmartMoney.com follows the industry...
Hey! It's a job.
|Tricks & Traps Alive & Well|
Audio Embed: BBC, PRI & WBUR's Here & Now 3/1/11,
Host: Robin Young.