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Harry Markopolos On The Fed (WBUR) — Transcript

by WBUR · 166 words · 24 segments · language en · Watch on YouTube
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  1. 0:00I'd like to say as bad as the uh
  2. 0:02Securities and Exchange Commission is
  3. 0:04and was that the Federal Reserve was a
  4. 0:06lot worse a lot more incapable uh
  5. 0:09totally incompetent our nation's largest
  6. 0:12banks are Beyond insolvent they're being
  7. 0:15propped up they're basically on life
  8. 0:17support government sponsored life
  9. 0:19support from our tax dollars it's the
  10. 0:20only thing keeping them
  11. 0:21alive and it was a massive failure by
  12. 0:24the Federal Reserve so as bad as the SEC
  13. 0:25was I believe the SEC is the best
  14. 0:28regulator out there and I would like to
  15. 0:30see them survive the Federal Reserve I
  16. 0:33have nothing good to say about they
  17. 0:35totally failed and they have not been
  18. 0:37brought to task before Congress and I'd
  19. 0:39like to see Congress bring them to a
  20. 0:42hearing and ask them what the heck they
  21. 0:44did to get us to this point where we're
  22. 0:46propping up the banks and why are we on
  23. 0:49the verge of national bankruptcy right
  24. 0:50now because of that

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