Tavakoli: Another Financial Crisis Looming, And You’re On Your Own
JESSE’S CAFÉ AMÉRICAIN
25 APRIL 2012
Janet Tavakoli takes the gloves off and tells it like it is in the cover story in the May 2012 issue of Research Magazine.
You’ll have to read it here, because I doubt you would hear this in any of the mainstream media.
I hate to apply the overused term ‘expert,’ but Janet is a highly credentialed expert in financial derivatives with years of practical experience. That does not mean that everything she says is necessarily right, but it certainly has credibility.
Someone asked me why would someone who is in the financial industry, and has benefited from their expertise in derivatives, speak out like this?
Have we really sunk that low that we cannot believe that some people could ever wish to speak the truth as they see it from moral principles, even against their short term material advantages? No wonder we are so easily taken in by lies, because that is what we want to hear. We are a lost generation.
This straight talk is a good spice to add to the somewhat bland presentation on the financial crisis last night from PBS Frontline.
It’s all about fraud and the subsequent cover up and ongoing bailouts. Its the credibility trap, and it continues to undermine the recovery and the real economy today.
The cover story is that these are just well meaning and extremely bright people who did their best, but a few people got carried away, and well, you know, things just happen.
Just like MF Global, right?