Chicago-Based MBA And Derivatives Consultant Points To Fraud As Cause Of 2008 Crisis Hot

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Describing the crisis as a financial Pearl Harbor with participants in the fraud manning the planes, Janet Tavakoli of Tavakoli Structured Finance sees a new crisis on the horizon.
 
She calls the crisis the largest Ponzi scheme in capital markets history and says that nothing has really been done to prevent a recurrence.
 
Political posturing is masking an expiring statute of limitations and inadvertently protecting instigators who profited from the crisis. She says financial advisors have no choice but to do their own due diligence because they can no longer trust regulatory bodies to effectively police the industry.
 
Understanding the finances of global and domestic entities holding their clients’ money is a new responsibility advisors will have to accept. Keeping up with global currencies and financial conditions will also be critical to the safety of client assets.

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