Comments on: CNBC Documentary by David Faber, “House of Cards,” Is Worth Your Time http://www.peridotcapitalist.com/2009/02/cnbc-documentary-by-david-faber-house-of-cards-is-worth-your-time.html Stock market and investing blog published by Chad Brand, Founder/President of Peridot Capital Sat, 11 Feb 2012 23:26:23 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Eugene Salganik http://www.peridotcapitalist.com/2009/02/cnbc-documentary-by-david-faber-house-of-cards-is-worth-your-time.html/comment-page-1#comment-3080 Eugene Salganik Mon, 10 Oct 2011 02:26:30 +0000 http://www.peridotcapitalist.com/?p=1203#comment-3080 Read "Requiem for Greed", great satire on the financial crisis. Read “Requiem for Greed”, great satire on the financial crisis.

]]> By: Scott Newman http://www.peridotcapitalist.com/2009/02/cnbc-documentary-by-david-faber-house-of-cards-is-worth-your-time.html/comment-page-1#comment-1524 Scott Newman Tue, 26 May 2009 14:36:40 +0000 http://www.peridotcapitalist.com/?p=1203#comment-1524 What a sour note! The whole schmiel ended with Greenspan's virtually condoning the whole rotten mess and blowing it off, with his usual flowery tone, as something Greedy Mankind did it to itself again, oh well! It was bound to happen and will continue on repeating a similar pattern for all time. He's learned everything to know about finances, has he ever studied about something called ethics??!! Doesn't the industry has a term referred to as 'moral hazard'?? Greenspan's knowledge is not in question here but just his common sense. He should have been one of the whistle-blowers LONG AGO!! It just goes to show you that being our biggest and brightest doesn't mean you won't still sell the rest of us all down the river for a few bucks. Maybe he'd like to also stand in the unemployment line with me and explain CDO's once again, I didn't quite get it! However, there's no denying that David Faber did a flawless investigation. My hat goes off to him. What a sour note! The whole schmiel ended with Greenspan’s virtually condoning the whole rotten mess and blowing it off, with his usual flowery tone, as something Greedy Mankind did it to itself again, oh well! It was bound to happen and will continue on repeating a similar pattern for all time. He’s learned everything to know about finances, has he ever studied about something called ethics??!! Doesn’t the industry has a term referred to as ‘moral hazard’?? Greenspan’s knowledge is not in question here but just his common sense. He should have been one of the whistle-blowers LONG AGO!! It just goes to show you that being our biggest and brightest doesn’t mean you won’t still sell the rest of us all down the river for a few bucks. Maybe he’d like to also stand in the unemployment line with me and explain CDO’s once again, I didn’t quite get it! However, there’s no denying that David Faber did a flawless investigation. My hat goes off to him.

]]> By: John http://www.peridotcapitalist.com/2009/02/cnbc-documentary-by-david-faber-house-of-cards-is-worth-your-time.html/comment-page-1#comment-1399 John Sat, 07 Mar 2009 15:03:40 +0000 http://www.peridotcapitalist.com/?p=1203#comment-1399 It was a very good documentary. It will probably air again. Search on your TV for the show and tivo or get someone to record it for you. Pat- yes the perfect storm. There was also the change of the capital gains roll over on houses to allow people to keep the money for a few years. This change allowed home owners to speculated and hold multiple houses without cap gains if they were lucky enough to sell before the house of cards fell. I wonder though with all the housing and AIG mess I have not heard much about how demutualization of banks and insurance companies have contributed. Many banks demutualized and converted to stock companies. These companies grew by acquisition and probably started becoming to levered and started investing in riskier and riskier investments to keep the shareholders happy. Look at Fith Third A great ponzi scheme (in a sense) that no news agency has written about as far as I know. It was a very good documentary. It will probably air again. Search on your TV for the show and tivo or get someone to record it for you.

Pat- yes the perfect storm. There was also the change of the capital gains roll over on houses to allow people to keep the money for a few years. This change allowed home owners to speculated and hold multiple houses without cap gains if they were lucky enough to sell before the house of cards fell.

I wonder though with all the housing and AIG mess I have not heard much about how demutualization of banks and insurance companies have contributed.

Many banks demutualized and converted to stock companies. These companies grew by acquisition and probably started becoming to levered and started investing in riskier and riskier investments to keep the shareholders happy. Look at Fith Third
A great ponzi scheme (in a sense) that no news agency has written about as far as I know.

]]> By: Pat http://www.peridotcapitalist.com/2009/02/cnbc-documentary-by-david-faber-house-of-cards-is-worth-your-time.html/comment-page-1#comment-1377 Pat Thu, 26 Feb 2009 03:26:11 +0000 http://www.peridotcapitalist.com/?p=1203#comment-1377 Faber stopped short of outing what I call the perfect storm of the financial industry. He could have started with Greenspan skirting Glass-Steagall, and him and Rubin convincing Clinton and the democratic party in joining the republicans to repeal G-S with no regulations. Add to that credit default insurance called “swaps” to avoid being regulated, with the CDOs and mortgage backs, an unregulated commodities exchange pushing oil prices up breaking Americans backs, all that added to Wall Street greed you’ve got a nasty storm. Add Sarbanes-Oxley and you have to write assets down immediately, it becomes the perfect storm. Faber stopped short of outing what I call the perfect storm of the financial industry. He could have started with Greenspan skirting Glass-Steagall, and him and Rubin convincing Clinton and the democratic party in joining the republicans to repeal G-S with no regulations. Add to that credit default insurance called “swaps” to avoid being regulated, with the CDOs and mortgage backs, an unregulated commodities exchange pushing oil prices up breaking Americans backs, all that added to Wall Street greed you’ve got a nasty storm. Add Sarbanes-Oxley and you have to write assets down immediately, it becomes the perfect storm.

]]> By: ron http://www.peridotcapitalist.com/2009/02/cnbc-documentary-by-david-faber-house-of-cards-is-worth-your-time.html/comment-page-1#comment-1367 ron Tue, 24 Feb 2009 14:16:34 +0000 http://www.peridotcapitalist.com/?p=1203#comment-1367 anyone got a link to the video? anyone got a link to the video?

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