Teddy Forstmann On This Crisis

Some of the old timers on Wall Street understand the severity of what is happening on Wall Street. Not all of them are incessant cheerleaders of this sham either. Most people who realize what is going on seem to generally avoid the media. Yet we need successful business executives, politicians and public servants to speak out against these crises in order to impact change. We need leadership from people that large swaths of society trusts. This includes people like Paul Volcker, Colin Powell, Warren Buffett and others.

Teddy Forstmann is one of those names within the financial community. He corroborates everything we have talked about on here for years from government complicity to the extreme risk-taking that will bring down Wall Street and our banking system again. This is a good interview even if Wall Street pumper Charlie Gasparino is giving it. (It's hilarious that Gasparino criticized bloggers writing of coming crises as idiots and ran down bearish guests on CNBC as know-nothings while he pumped the brilliance of Wall Street charlatans. Then he turned around after the crisis had already happened and wrote a book condemning Wall Street. The reality is Gasparino was a cheerleader who didn't see any of this coming but now we are supposed to buy his book telling us how this crisis happened? Typical CNBC.)