Redleaf: Originate-to-distribute and misaligned incentives did not cause the 2008 crisis
Andy Redleaf · Andy Redleaf - Evolution of Markets (Capital Allocators, EP.46) · Apr 2, 2018 · at 36:12
Andy Redleaf discusses the true macroeconomic causes of the 2008 financial crisis with Ted Seides.
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“People and regulators and so forth talk about the originating to distribute as the problem of the financial crisis. I think that that's completely wrong. It's not the case that incentives were misaligned. I mean, all of Lehman's employees Had the bulk of their net worth in, in Lehman stock. And Dick Fould is not a happy guy post crisis, you know.”
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