Chris Dodd and Barney Frank were on CNBC a couple days ago discussing the 5yr anniversary of the failure of Lehman Brothers and the start of the financial crisis. In watching that video I witnessed two amazing things.
- Former Congressman Frank trying to rewrite history and paint himself the lowly politician fighting against the tide, casting the Republicans as the ones stopping him from slowing/stopping the housing bubble.
- How Andy Sorkin just accepted the lies and didn't challenge anything he was told.
Anyway, Peter Schiff, coincidentally someone who did predict the housing bubble unlike Frank, does a phenomenal job excoriating Frank for his lies using Frank's own words against him. In reality, this type of response shouldn't be necessary. Sorkin shouldn't allow Frank to lie to him and his viewers and should be challenging BS like this.
As a side note, Sorkin rhetorically asked if there should be people in jail over this. While he didn't allow either guest to answer, I will. Yes, people should be in jail, and Andy you should start with the two people who sat across from you.