4 ms·
On charges of holding them accountable for the rampant fraud that occurred in the run up to the crisis.
by ddebernardy 10y ago
On charges of holding them accountable for the rampant fraud that occurred in the run up to the crisis.
- joekrie 10y agoWas the fraud uncovered by the crisis, or was it known about and tolerated until it turned into a crisis?
- ddebernardy 10y agoIt was uncovered by the crisis. It was laid bare when the assets banks were booking as tier-1 capital turned out to be illiquid or worthless, and often both; and when off balance sheet losses revealed they were swimming naked for the same reasons.