Podcasts about financial crisis inquiry commission

In this episode of Investing In Integrity, Ross Overline speaks with Mike Mayo, Managing Director and head of U.S. large-cap bank research at Wells Fargo Securities. He has spent 30 years as a bank analyst and is the author of “Exile on Wall Street: One Analyst's Fight to Save the Big Banks From Themselves.” Mike's influence extends beyond traditional research roles, as he was one of the few analysts who foresaw the 2008 global financial crisis and subsequently testified on its causes to the Financial Crisis Inquiry Commission in 2010. His contributions to the field have earned him widespread recognition, including accolades such as the Daniel J. Forrestal III Leadership Award for Professional Ethics and Standards of Investment Practice from the CFA Institute. Mike shares his background and journey into the finance industry, highlighting the challenges he has faced and the importance of staying true to his values. He emphasizes the importance of isolation, initiative, and impact in his work. Together, Ross and Mike discuss the isolation felt by finance professionals and students and how to overcome it, accountability in the financial industry, and leadership in finance. 

Original Interview - 16th of April, 2024On this episode of the WTFinance podcast I had the pleasure of welcoming on Larry McDonald. Larry is the Founder of the Bear Trap Report and author of the recently released book “How to listen when markets speak”.During our conversation we spoke about his book, why global inflation could be higher for longer, back to the 60's/70's, the commodity supercycle, debasement of the US Dollar, sanctions, China growth is coming back and more. I hope you enjoy!Buy the book - https://www.amazon.com/Listen-When-Markets-Speak-Opportunities/dp/05937274950:00 - Introduction1:26 - Influence for writing the book?3:06 - Current views of macroeconomics?5:06 - Global inflation8:03 - Things going back to 60's/70's?12:01 - What influenced the 40 year bubble?13:11 - Austerity in the US during the 2010's15:31 - Why haven't we experienced a crash?20:03 - Commodity bull market to push economy into recession?21:43 - Secular shift?23:24 - Examples of financial repression?25:19 - Debasing the US Dollar?27:14 - Sanctions28:04 - Commodity countries to benefit?31:24 - More power to OPEC+?33:07 - US has never produced more energy34:24 - China growth is coming back36:24 - Most surprising aspect of researching for the book39:54 - One message to takeaway from our conversation?New York Times bestselling author. Our latest -- "When Markets Speak" -- on sale date from our publisher Penguin Random House is March 26th. Our first book - “A Colossal Failure of Common Sense” is ranked by the CFA Institute in the "Top 20" Books All-Time in Finance. Now one of the bestselling business books in the world, it's translated into 12 languages with over 750,000 copies sold. Right behind PIMCO, Lawrence McDonald is the #2 influencer in the world in Fixed Income by http://www.rightrelevance.com/ - Join our nearly 120k followers on Twitter @convertbond .Managing Director, former U.S. Macro strategy head at Societe Generale. As one of the leading risk managers and market strategists today, Larry is a frequent contributor to Bloomberg, CNBC, MSNBC, and Fox Business. Notably, Larry was a special advisor to the Financial Crisis Inquiry Commission and appeared in the Academy Award-winning documentary, “Inside Job."Larry has delivered over 160 keynote speeches in 20 countries. He details the complexities of Lehman, why it was allowed to fail, and the aftershocks that have rocked the global economy, and continue today. From 2004- 2008, Larry was head of the Distressed Debt & Convertible Securities Trading group at Lehman. He ran an extremely successful joint venture between the firm's fixed income and equity division. Larry was considered one of the firm's most profitable traders. Featured is his global bestseller, during the 2007-2008 period, he led his team in bets against the subprime mortgage crisis, netting over $100m in profits for the doomed firm.Larry McDonald:Website - https://www.thebeartrapsreport.com/LinkedIn - https://www.linkedin.com/in/convertbond/Book - https://www.amazon.com/Listen-When-Markets-Speak-Opportunities/dp/0593727495WTFinance -Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfniTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4Twitter - https://twitter.com/AnthonyFatseas

Folks there are about six weeks remaining in 2022. I believe goal setting is a critical component of success. If you have not started planning for next year, you are probably going to start the year without a solid plan. If you're planning in January, then you missed the starting gun. Every year, our team takes three days to plan the upcoming year. This year, we will be doing that work from December 9-11. It will be a face to face session held over those three days in Ottawa Canada. We have only a few number seats available for those who would like to participate in our planning process. This would be a seat at the table with our team as we develop our individual and personal goals for 2023. If you would like to spend these three days with us, send an email to goals@victorjm.com and we will send you information on how you can participate and work on your own goals following what we believe is a very solid process for goal setting. Send an email to goals@victorjm.com On yesterday's show we talked about the importance of learning from the GFC. It seems that the root causes of the financial crisis have been glossed over and not properly dealt with. Ben Bernanke who was the Fed chairman at the time has gone on record and said that the scope of the subprime mortgage loans was not sufficient to explain the magnitude of financial destruction that took place during those years. He also went on to say that the Fed lacked the tools to effectively deal with the crisis. The Fed stepped in to bail out some institutions. But the crisis did not appear first in the US. The cascade of dominoes started overseas and did not involve any US entities at first. The first inkling of a problem happened on Aug 7, 2007 when trading in three funds based in Lichtenstein virtually stopped. These were money market funds, denominated in US dollars, trading in London and securitized a basket of assets that were considered to be high quality, on par with US Treasuries in terms of quality. A credit bubble appeared in both the United States and Europe. This tells us that our primary explanation for the credit bubble should focus on factors common to both regions. Home prices in the UK, Ireland, Spain, France, Italy and Australia experienced similar effects to the United States. But as we discussed on yesterday's show, Canadian real estate was largely unaffected by the financial crisis. So why is that? What was different? Large financial firms failed in Iceland, Spain, Germany, and the United Kingdom, among others. Not all of these firms bet solely on U.S. housing assets, and they operated in different regulatory and supervisory regimes than U.S. commercial and investment banks. In many cases these European systems have stricter regulation than the United States, and still they faced financial firm failures similar to those in the United States. Did the Financial Crisis Inquiry Commission really get to the root cause of the crisis? ----------------- Hoat: Victor Menasce email: podcast@victorjm.com

Kirstin Downey grew up in Kailua on Oahu, where her father was a state harbor pilot working out of Aloha Tower. She went to Pennsylvania State University where she majored in journalism, and then worked at newspapers in Colorado, Florida and California before joining the Washington Post, where she was an award-winning economics and investigative reporter for 20 years. She was a finalist for the Livingston prize for outstanding young journalist in America. In 2000, she was awarded a Nieman fellowship at Harvard University. Starting in 2005, she wrote dozens of news articles about problematic new kinds of real estate loans, reporting that foreshadowed the mortgage meltdown. She was part of a Washington Post team that won the Pulitzer Prize in 2008 for covering the Virginia Tech campus slayings. She later served as an investigator for the federal Financial Crisis Inquiry Commission and as editor of FTC:WATCH, a newsletter that follows the Justice Department and Federal Trade Commission. In 2009, Kirstin published The Woman Behind the New Deal, a biography of path-breaking government official Frances Perkins, a book that was a finalist for the Los Angeles Times Book prize and named one of the top ten biographies of the year by the American Library Association. In 2014, she wrote a biography of Queen Isabella of Castile, called Isabella the Warrior Queen, a book that BBC called one the ten most notable books of the fall. In 2015, she returned home to Hawaii, where she now works as a special correspondent for Honolulu Civil Beat, reporting on how actions taken in Washington affect the state. She is currently writing a new history of Hawaii during the first 50 years after Captain Cook arrived, with a focus on a remarkable Kauai chief, Kaumualii, who fought to protect his island and his people.

After starting a house painting business at the peak of the housing bubble, Jimmy Morrison drove over 35,000 miles interviewing people who predicted the crash, resulting in two documentaries. The 1st film looks at the causes of The Housing Bubble and other crises ranging from the great depression to the dot com bubble. The 2nd film starts with the bailouts in 2008 and shows The Bigger Bubble that the economy has become today. The world premiere of The Housing Bubble was at the Anthem Film Festival in 2018. Legendary investors Jim Rogers, Marc Faber, Doug Casey, and Peter Schiff star in the films alongside economists Joseph Salerno, Ron Paul, Robert Murphy, Jeff Herbener, Mark Thornton, Roger Garrison, and Patrick Barron. Financial writers Jim Grant, David Stockman, and Gene Epstein join the cast, as well as Peter Wallison, a dissenting member of Congress's Financial Crisis Inquiry Commission. Naomi Brockwell narrates the film, and NY Times bestselling author Tom Woods co-wrote the project. Jimmy entered the political world as a lobbyist in 2008, when he started Iowa Patients for Medical Marijuana. The organization is now the largest in the state with over 7,000 members and is known for lobbying the first pharmacy board in the country to support medical marijuana, which the bipartisan board passed unanimously. He was the State Director of Iowa for Gary Johnson's Republican Presidential campaign in 2012. He has lectured on economics in 6 countries, including at the Warsaw School of Economics and the University of Toronto. While in Estonia, Jimmy advised their Social Minister, Finance Minister, and Prime Minister. Jimmy has filmed 4 Grammy winners and had his work screened at the Minneapolis St. Paul Film Festival and the Anthem Film Festival. His music video "Aperture" was selected by Oscar winning director David Lynch for a grant. Let Us Disagree Productions released their first feature length film last year when Rocksteppy premiered in LA and NYC. The film features cameos with David Lynch, the dude from The Big Lebowski, and the Farrelly Brothers, who directed comedies like Dumb & Dumber and There's Something About Mary. Jimmy ran a camera unit on the film and served as Executive Producer. Source: Let Us Disagree Productions --- Support this podcast: https://anchor.fm/john-aidan-byrne0/support

Hilary J. Allen isn't sorry if you find her new book scary. In fact, she's hoping that Driverless Finance: Fintech's Impact on Financial Stability can spook enough people to create momentum for change. Allen was involved in the Financial Crisis Inquiry Commission that was formed by Congress to study the causes behind the 2008 financial crisis. Now she sees the possibility of financial collapse on an even greater scale with AI technology being used in the financial industry; "smart contracts" that could bring down banks before human intervention is possible; cryptocurrency and non-fungible token sales being made for the purpose of speculation; and tech giants like Apple, Facebook, Amazon and Google contemplating offering financial services. In the future, she warns, banks might not be the only entities that become "too big to fail."  While the public is concerned about the safety of driverless cars, there's much less awareness about driverless finance, and the dangers it could pose to the global financial system are real, says Allen.  In this episode of the Modern Law Library, Allen speaks with the ABA Journal's Lee Rawles about the promise and downsides of some "cutting-edge" financial products, and why innovation is not inherently good. She suggests some avenues for regulation and oversight, urges that regulators be given the technology and access to expertise they need to keep up with new financial products and markets, and explains what an NFT is–and what it isn't.   Special thanks to our sponsor, Posh Virtual Receptionists.

Hilary J. Allen isn't sorry if you find her new book scary. In fact, she's hoping that Driverless Finance: Fintech's Impact on Financial Stability can spook enough people to create momentum for change. Allen was involved in the Financial Crisis Inquiry Commission that was formed by Congress to study the causes behind the 2008 financial crisis. Now she sees the possibility of financial collapse on an even greater scale with AI technology being used in the financial industry; "smart contracts" that could bring down banks before human intervention is possible; cryptocurrency and non-fungible token sales being made for the purpose of speculation; and tech giants like Apple, Facebook, Amazon and Google contemplating offering financial services. In the future, she warns, banks might not be the only entities that become "too big to fail."  While the public is concerned about the safety of driverless cars, there's much less awareness about driverless finance, and the dangers it could pose to the global financial system are real, says Allen.  In this episode of the Modern Law Library, Allen speaks with the ABA Journal's Lee Rawles about the promise and downsides of some "cutting-edge" financial products, and why innovation is not inherently good. She suggests some avenues for regulation and oversight, urges that regulators be given the technology and access to expertise they need to keep up with new financial products and markets, and explains what an NFT is–and what it isn't.   Special thanks to our sponsor, Posh Virtual Receptionists.

Hilary J. Allen isn't sorry if you find her new book scary. In fact, she's hoping that Driverless Finance: Fintech's Impact on Financial Stability can spook enough people to create momentum for change. Allen was involved in the Financial Crisis Inquiry Commission that was formed by Congress to study the causes behind the 2008 financial crisis. Now she sees the possibility of financial collapse on an even greater scale with AI technology being used in the financial industry; "smart contracts" that could bring down banks before human intervention is possible; cryptocurrency and non-fungible token sales being made for the purpose of speculation; and tech giants like Apple, Facebook, Amazon and Google contemplating offering financial services. In the future, she warns, banks might not be the only entities that become "too big to fail."  While the public is concerned about the safety of driverless cars, there's much less awareness about driverless finance, and the dangers it could pose to the global financial system are real, says Allen.  In this episode of the Modern Law Library, Allen speaks with the ABA Journal's Lee Rawles about the promise and downsides of some "cutting-edge" financial products, and why innovation is not inherently good. She suggests some avenues for regulation and oversight, urges that regulators be given the technology and access to expertise they need to keep up with new financial products and markets, and explains what an NFT is–and what it isn't.   Special thanks to our sponsor, Posh Virtual Receptionists.

The second of two episodes that find Nia and Aughie exploring the four major Banking Commissions from 1907 to 2010. In part 1, they discussed the National Monetary Commission and the Pecora Investigation. In part 2, they look into the Commission on Money and Credit and the Financial Crisis Inquiry Commission.

The next two episodes find Nia and Aughie exploring the four major Banking Commissions from 1907 to 2010. In part 1, they discuss the National Monetary Commission and the Pecora Investigation. In part 2, they look into the Commission on Money and Credit and the Financial Crisis Inquiry Commission.

Richard Bowen is the Citigroup whistleblower who repeatedly warned Citi executive management about risky business practices and potential losses related to mortgage lending, according to the Wall Street Journal, CBS Evening News, and 60 Minutes, As a business chief underwriter for Citigroup during the housing bubble financial crisis meltdown, he says he saw fraud firsthand inside the organization. According to Richard Bowen, he watched with disbelief at the way the company certified poor mortgages as quality mortgages and sold them to Fannie Mae, Freddie Mac and other investors. For two years he said he repeatedly warned executive management and the board of directors. His warnings, he said, were ignored, despite the fact that withholding such information from shareholders and investors violated the Sarbanes-Oxley act. Citigroup eventually stripped him of all responsibilities, placed him on administrative leave and told him his presence was no longer required at the bank. Richard subsequently testified before the Securities and Exchange Commission and gave them 1,000 pages of evidence of fraudulent activities, with the bank bailouts occurring three months later. In 2010, Richard was a key witness in the mortgage mishaps as he gave nationally televised testimony before the Financial Crisis Inquiry Commission. He says he was shocked to see the orchestrated efforts to hide key parts of his testimony from the American public. Source: richardmbowen.com --- Support this podcast: https://anchor.fm/john-aidan-byrne/support

Stocks touch record highs ahead of the 10th anniversary of the collapse of Lehman Brothers during the 2008 financial crisis, the largest bankruptcy in US history. Guests include Dr Mohamed El-Erian, Chief Economic Advisor at Allianz, Phil Angelides, Chair of the Financial Crisis Inquiry Commission discuss lessons learned during the crisis. Big changes seen in the mortgage business. The economy is celebrated in the San Gabriel Valley. Support the show: https://www.frankmottek.com

This lecture was presented on June 23, 2017 by Peter J. Wallison at the Institute of World Politics. ABOUT THIS SPEAKER Peter J. Wallison holds the Arthur F. Burns Chair in Financial Policy Studies at the American Enterprise Institute and is co-director of AEI's program on Financial Policy Studies. Prior to joining AEI, he practiced banking, corporate and financial law at Gibson, Dunn & Crutcher in Washington, D.C., and New York. Mr. Wallison has held a number of government positions. From June 1981 to January 1985, he was General Counsel of the United States Treasury Department, where he had a significant role in the development of the Reagan Administration's proposals for deregulation in the financial services industry. During 1986 and 1987, Mr. Wallison was White House counsel to President Ronald Reagan, and between 1972 and 1976, he served first as Special Assistant to New York's Gov. Nelson A. Rockefeller and, subsequently, as counsel to Mr. Rockefeller as vice president of the United States. Mr. Wallison was admitted to practice before the courts of New York and the District of Columbia, and is retired from practice in New York. He continues to be a member of the District of Columbia Bar Association. He received his undergraduate degree from Harvard College in 1963 and law degree from Harvard Law School in 1966. Mr. Wallison is the author of Ronald Reagan: The Power of Conviction and the Success of His Presidency, published in December 2002 by Westview Press. On financial or regulatory matters, he is the author of Back From the Brink, a proposal for a private deposit insurance system, and co-author of Nationalizing Mortgage Risk: The Growth of Fannie Mae and Freddie Mac; The GAAP Gap: Corporate Disclosure in the Internet Age; and Competitive Equity: A Better Way to Organize Mutual Funds, all of which were published by AEI. He is also the editor of Optional Federal Chartering and Regulation of Insurance Companies, and Serving Two Masters, Yet Out of Control: Fannie Mae and Freddie Mac, also published by AEI. On campaign finance, he is the author (with Joel Gora) of Better Parties, Better Government, (AEI Press 2009) and Bad History, Worse Policy: How a False Narrative about the Financial Crisis Led to the Dodd-Frank Act (AEI Press 2013) . His most recent book is Hidden In Plain Sight: What Caused the World's Worst Financial Crisis and Why it Could Happen Again (Encounter Books 2015). He is currently working on a book on the administrative state. He testifies frequently before committees of Congress, and is a frequent contributor to the op-ed pages of the Wall Street Journal and other print and online journals. He has also been a speaker at many conferences on financial services, housing, the causes of the financial crisis, the Dodd-Frank Act, accounting, and corporate governance, and was a member of the Shadow Financial Regulatory Committee between 1995 and 2015. He is also a member the Council on Foreign Relations, the SEC Advisory Committee on Improvements to Financial Reporting (2008), co-Chair of the Pew Financial Reform Task Force (2009), and a member of the congressionally- appointed Financial Crisis Inquiry Commission (2009-2011). In May 2011, for his work in financial policy, Mr. Wallison received an honorary doctorate in Humane Letters from the University of Colorado.

Five years after producing the US government's official report on the financial crisis, Financial Crisis Inquiry Commission chairman Phil Angelides has written a letter to Attorney General Loretta Lynch asking why the Department of Justice has yet to hold Wall St executives accountable for the damage. Mr Angelides explains his position to US banking editor Ben McLannahan. Music by Kevin MacLeod. See acast.com/privacy for privacy and opt-out information.

Aired: 12/20/2014 7 PM:: Mr. Georigou received his undergraduate from Stanford University and his JD from Harvard Law School. With almost four decades as financial lawyer and political activist, his roots began humbly working on behalf of farmworkers in the late 1970s for the California Agricultural Labor Relations Board. In 2009, he was the Commissioner of the Financial Crisis Inquiry Commission, appointed by US Senate Majority Leader Harry Reid.

Financial history is characterized by a consistent fear of bank runs, especially during times of crisis. The financial crisis of 2007-09 was no exception. The Financial Crisis Inquiry Commission identified no less than 10 cases of runs. Those runs were a major consideration in the shifting policy responses that authorities employed during the crisis. In the early stages, troubled institutions facing runs were dealt with through a scattered blend of voluntary mergers, outright closures, and bailouts. By late 2008 and thereafter, panic had descended on the major financial agencies. That resulted in the decision to backstop the full range of large institutions, as government officials feared a collapse of the entire financial system. However, serious analysis of the risks facing the financial sector was sorely lacking. In a recent Cato Policy Analysis, Vern McKinley provides such an analysis, asking whether many of the crisis decisions were appropriate. See acast.com/privacy for privacy and opt-out information.

Dial (347) 989-8946 to join the live call and submit your questions and comments as Academy President Rinaldo Brutoco and Wealth Advisor Howard Smith discuss: •The Academy’s projection for global and U.S. economic growth this year, and the potential impact of the unrest sweeping the Mideast; •Why the new Financial Crisis Inquiry Commission report portends another financial crisis unless we enact necessary reforms; and •What “financial engineering” is and why you should be concerned about it. Rinaldo and Howard will also do their "Lightning Round," a series of quick insights and comments on various asset classes, with an emphasis this month on stocks and bonds, including what the P/E ratio is, and the relationship among it, the new stock market highs, and the higher dividends companies are paying.