Incompetent paid shill Frederic Mishkin in his own words
The guy is also a former Fed governor, in case you were wondering what kind of corrupt idiots are running our entire financial system.
Here's his 2005 take on Too Big To Fail: What, Me Worry? Then there's his great housing bottom call in April 2007.
And congratulations to the Columbia Business School for allowing this man to remain a professor.
The interview above is reportedly by filmmaker Charles Ferguson, whose film Inside Job, about the financial collapse, will be released this fall.
UPDATE: Thanks to Mish for the link and more exposition of the walking debacle that is Frederic Mishkin. Click on over and read it all. And thanks also to Prudens Speculari for the link. Head on over there for wit and wisdom on Mishkin and Columbia Business School. And of course the awesome JDA, who would have beaten me to the story had she not been otherwise occupied this weekend.
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Typical. What I love, or actually hate with pure venom, is how these ivory tower frauds can write something, be completely wrong, and almost feel success in their failure.
You can use the doctor analogy or sports analogy here, whatever, only in this industry do the leaders and icons of the industry fail miserably and it appears to raise their stature.
The joke is on us and these guys are the jesters.
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