Two great conversations on the current economic crisis

The following two conversations discuss the current economic crisis and compare to the S&L crisis in the 80's. Very insightful. Isaac was head of the FDIC during the S&L crisis and he says that no one contacted him to discuss the current situation. Astounding!


Wallison Says `Fair Value' Accounting a Cause of Crisis

Sept. 25 (Bloomberg) -- Peter Wallison, a fellow at the American Enterprise Institute, talks with Bloomberg's Tom Keene about the outlook for the proposed $700 billion bailout of financial institutions, the role accounting rules played in the credit crisis and the risks facing financial markets and the economy.

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Isaac Doubts Bailout Plan Will Work in Current Form

Sept. 25 (Bloomberg) -- William Isaac, former chairman of the Federal Deposit Insurance Corp., talks with Bloomberg's Tom Keene from Sarasota, Florida, about the U.S. financial crisis, fair-value accounting rules and the government's proposed $700 bailout of financial institutions.

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