Ben Bernanke, have I got a bank for YOU! Step into my office!
September 6, 2008
According to the New York Times, Fannie Mae and Freddia Mac will be saved!
Short excerpt from the book my friends at the library shared with me:
“I know these guys with the nerd examples from the bank days. They think way too slow. And they are too commoditized. You can take them for a ride.”
- The street-wise Fat Tony, from Nassim Nicholas Taleb’s The Black Swan: The Impact of the Highly Improbable
I prepared this post a week ago, assuming I might as well be ready. For some context, see a previous post of mine (there are some good comments by readers there as well).
I wonder if any of Bush’s cousins need work? I heard Fannie and Freddie have executive spots opening up…
… and the cow goes moo
[...] I had previously likened Ben Bernanke to a mark that a used car salesman would salivate over. But after reading this post from Mish, it seems like AIG was trying to sell him on a smaller car than he eventually bought. I wonder if he’d be better described as a poor poker player? Seems like he had a chance to fold with $40 billion in the pot but, holding an off-suit 4 and 9, opted to bluff with a $35 billion raise. And he ended up leaving $75 billion on the table instead. [...]