FAQ

Views

Question

• Who is responsible for these failing institutions [such as AIG, Fannie Mae, Freddie Mac, and Lehman Bros., in the mortgage crisis] in your view?

Answer

Who is responsible for these failing institutions [such as AIG, Fannie Mae, Freddie Mac, and Lehman Bros., in the mortgage crisis] in your view?

I think the corruption on Wall Street--that is to blame. And that violation of the public trust. And that contract that should be inherent in corporations who are spending, investing other people's money--the abuse of that is what has got to stop. And it's a matter, too, of some of these CEOs and top management people and shareholders not holding that management accountable, being addicted to, we call it, O-P-M, "other people's money." Spending that, investing that, not using the prudence that we expect of them. But here again, government has got to play an appropriate role in the stringent oversight, making sure that those abuses stop. [ 2008 Fox News interview on "Hannity & Colmes" Sep 17, 2008]