60 Mins on the Crisis

My Securities Reg Professor, Frank Partnoy, was on 60 Minutes this past Sunday discussing the financial crisis. Professor Partnoy used to be derivitives broker and is a smart, smart dude. He blames Wall Street almost entirely for this mess. Meh. Video link here.

On the upside, Tom Smith shares this anecdote:

I don't know if Frank still thinks this, but a few days ago I asked him on a scale of 1 to 10, where 1 is total nonchalance and 10 is gibbering terror, where he would put himself in this crisis. We each wrote down a number on a slip of paper so they would be independent. I wrote a 6 and Frank wrote a 3. So he seemed not that worried. I specialize in worry, so I'm not a very good measure.