Charles Ferguson on the Financial Landscape after 2008's "Inside Job"
Welcome to Capital Account. It's been roughly four years since the 2008 financial crisis, and it doesn't feel like a whole lot has changed on Wall Street. Too Big to Fail Banks are bigger, 650 trillion dollars of over the counter derivatives are still out there, and financial scandals abound. Bloomberg reports Wall Street may face a formidable foe in the Libor scandal if investors and firms sue. That foe is Wall Street itself. And the Financial Times also reports regulators are narrowing in on at least four of Europe’s biggest banks in the rate rigging probe: HSBC, Deutsche Bank, Credit Agricole and Societe General. But will Libor mark a turning point in the authorities’ serious pursuit and punishment of Wall Street crime? Lauren interviews Charles Ferguson, the director of "Inside Job," about this pressing issue and what has or has not changed since 2008's epic financial crisis.