I mentioned in the post on my own blog that I enjoyed this interview very much, although I don’t think we ever addressed what is the real strength of his book, which is explaining the crisis in layman’s terms. I know here on Ephblog, SIV’s, laundering tranches of sub-prime mortgages through credit rating agencies and credit-default swaps are old hat, but for those of us who don’t deal with this on a daily basis, The Trillion Dollar Meltdown is a good primer by a bearish market observer. I know he enjoyed the interview, and I am thinking about having him back on later in the year.

I mention in the interview that there were a lot of questions I just never got to. Among those questions were:

Possible reform of credit rating agencies and whether the SEC, as Comissioner Cox maintains, already has the power they need to reform them without further action.
Whether, given the nature of money in the political system, the real push for reform would have to come from the financial institutions themselves, since if they’re not interested, they can gum up the works pretty well.
The symbolism of the return of the 12 month T-Bill.
Whether the too big to fail mantra of banks signals the actual, if not rhetorical end, of free market capitalism.
Whether this talk about the IMF setting rules for Sovereign Wealth Funds is just a bunch of balloon juice.
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