Tag Archives: Einhorn is Finkle

David Einhorn’s Interview With The Financial Crisis Inquiry Commission: The Signs Were There

8 Mar

He (like Ackman) saw the problems with the Monoline insurers like MBIA way back in 2002, when he realized “…their business model didn’t make any sense.”  Over the coming years, Einhorn and his team at Greenlight Capital realized it wasn’t just the Monolines, but the Ratings Agencies and the Investment Banks, so by 2007, they were aware of the likely impending crash, and positioned accordingly.

As I said in my summary of John Paulson’s interview with the FCIC: The signs were there, but (almost) everyone was looking the other way and/or unwilling to make the tough decisions that would have likely prevented the crisis or at the very-least lessened the blow.

Here’s the transcription, courtesy http://www.santangelsreview.com.