Some very smart investors/economists etc. gave testimony before the Financial Crisis Inquiry Commission
discussing the causes of the sub-prime meltdown, collapse of Lehman Brothers, the role of rating agencies, and other causes of the financial crisis . While, some of the testimonies are very interesting to listen to, most are quite lengthy (Warren Buffett
's testimony lasted two hours), and I prefer reading rather than listening to the audio. H/T to my friend Steve of http://www.santangelsreview.com
who transcribed David Einhorn
's testimony before the commission, which took place in November 2010. In the interview, Einhorn details his thinking in late 2008; how he saw the disaster coming and shorted several major financial institutions.
Below is the entire testimony in scribd format, if you prefer to listen to the audio, the link is here-David Einhorn, Greenlight Capital • MP3 Continue Reading »