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Great Article on the People Who Were Catalyst in the Financial Collapse
By: conark
Published On: 3-27-2009

From the Rolling Stone magazine online.  I know a few names, some whom are obvious.  The big question is how all this got orchestrated, where their connections lie, their background and what they've done.

  • Robert Rubin - him and Alan Greenspan refused to regulate derivatives.  Later joined Citigroup's board and is cited to be a major reason for the near collapse of the company in his partial managerial/oversight role.  Is vice chairman of the Council on Foreign Relations and a founder of the Hamilton Project.  Also, had a hand in the Enron scandal, mostly to "convince bond-rating agencies not to downgrade the corporate debt of Enron."  Graduated from Harvard.
  • Christopher Cox - Graduated from Harvard (MBA and JD in Law)  Was responsible for the Internet Tax Freedom Act.  Was the SEC chairman from 2005.  Helped enforce SOX.  Ended the 2004 program for voluntary regulation of investment bank holding companies, which, according to the article, was too late.  In favor of deregulated markets and was favorable to businesses.
  • Angelo Mozilo - Former head of Countrywide.  In other words, the person people find responsible for the mortgage bubble bursting.  Had a controversial "Friends of Angelo" VIP program that gave discounts to people such as Christopher Dodd and George Bush.
  • John Thain - Last CEO/Chairman of Merrill Lynch and later resigned on 1/22/2009.  Led Merrill to be bought by Bank of America.  Was paid a large bonus prior to the Bank of America take over and is being investigated.
  • Henry Paulson - Current US Treasury Secretary, former Goldman Sachs chairperson and CEO.  Attended both Dartmouth for his undergraduate and got his MBA from Harvard.  Heavily influenced deregulation in the US.

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