Archive for July 28th, 2008

Read It While You’re Packing Up Your Stuff

A quote from this Jon Stewart interview with Richard Bitner, a former subprime mortgage wholesaler and writer of Confessions of a Subprime Lender — An Insider’s Tale of Greed, Fraud and Ignorance.

Nothing really new in this interview about the subprime debacle, but Stewart manages to make it entertaining. Regarding governmental oversight (or the lack thereof), and the role Wall Street played:

Bitner: “And when you leave the guys who are holding the money in charge of making the rules…”
Stewart: “You have a casino!”

Link to Comedy Central video with Jon Stewart. Note: Comedy Central video links often expire, so if you’re reading this long after it’s publication date and there’s no video, that’s the problem.

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