Wall Street's High Crime Area, Libor Scandal Expands, Confidence Crisis, and More
1. Your Wish Is My Command
It's hardly news that the New York Fed was doing the bidding of the banks. One of the biggest problems we had in the lead up to the crisis was that all of these regulators were captives to the banks ... and they understood their job as servicing the banks and being their advocate.
— Dennis Kelleher, President & CEO, Better Markets, Inc., on the news that Tim Geithner was aware of possible LIBOR rigging back in 2008