Scapegoat, maybe. I find it hard to believe that he could have pulled this off by himself, without others (e.g. Greenberg) being the least bit curious as to what he was up to. And the total lack of oversight stinks to high heaven. From the OTS to the SEC to Congress. I’m not talking about the absence of regulation as much as the literal absence of any effort to monitor or enforce the regulations that were in place. They all dropped the ball.
I actually think it goes a lot deeper than that, but until I have more proof I’ll remain silent and avoid being labeled a tin-foiler. ;-)
Ceo's getting multimillions in bonuses and golden parachutes....
public employees retiring on more money than they ever earned while "working"...
Payrod getting 1/4 of a billion dollars in his contract?
these things make you go "hummmmm" in the middle of the night.....
but having said all that, there is a big part of me that says this whole thing was orchestrated to line the pockets of the elite rich by ripping the rest of us off.....
Just thought of this....why isn’t Larry Summers the Treasury Head....cause to get there he would have to gp before the Senate for Confirmation.....