James Galbraith, Neil Barofsky, and John Coffee Discuss Lessons from Lehman Meltdown

Via Naked Capitalism comes this video discussion  FIVE YEARS ON, LEARNING LEHMAN’S LESSONS FROM THE PANIC OF 2008- Panel Discussion in a panel discussion with James K. Galbraith (Economics Professor at the University of Texas), Neil Barofsky (former Inspector General for overseeing TARP), John Coffee (Law Professor at Columbia University).

A link to the entire event, including Elizabeth  Warren’s remarks, see here.

The first 45 minutes are the panelists with the rest being Q&As.

At about 1:15 there’s a pretty good shredding of the NYT’s recent reporting on prosecute-or-no decisions by the regulators.

Commenter Chauncey Gardiner points to the Dallas Fed:

Yesterday, economists at the Dallas Federal Reserve Bank published a report that estimated the damage these individuals have caused to date likely exceeds the nation’s total GDP for one year [See: http://dallasfed.org/assets/documents/research/staff/staff1301.pdf ]