An interesting perspective on the current fiasco. None of the material is really new nor are their any surprising revelations but Michael Lewis and Steve Kroft do a good job with the presentation.
A handful of Wall Street outsiders who realized the sub-prime mortgage business was a house of cards and found a way to bet against it.
Inside The Collapse, Part 1
Michael Lewis talks about the current situation on Wall Street, the large bonuses still being paid and his predictions for the future of the industry.
Inside The Collapse Part 2
Source: CBS and 60 Minutes
Steve Kroft interviews Michael Lewis
Hi and welcome to The Profit Motive, I’m your host Caleb Lawrence. Once upon a time in America the media acted as the watchdog of the corporations and the state. In the modern era it’s all about ratings and profits, opinion has been substituted for news and frequently is presented as fact. Much like my daily radio show on KPIG 107.5 FM in Santa Cruz California and KPYG FM 94.9 Cayucos/San Luis Obispo California. A thousand Blogs were able to spot the current problems and many began discussing it years before it reached crises proportions. While there were exceptions, and these exceptions are becoming more common, the mainstream media failed to get it and largely continue to do so.
