Ep. 708: One of the Omaha Guys Lays It Out with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
The Fault in Our Common Civilization
"The people who did this are despicable the accountants that bless the accounting have despicable failed in their own profession," he says. "This is not a modest fault this is a significant fault in our common civilization the professionals have horribly failed us and the academics that have allowed these professionals to prosper without appropriate criticism they have failed us to" The regulators were inside of the example I have 200 regulators in Washington they have two companies for unendurable future troubles Fannie Mae and Freddie Mac ended up with 30 billion dollars worth of miscalculated earnings it just was totally insane It was a mad headers tea party all these people have horriblyfailed us with the most elementary common sense nobody ever said look this is
