Adding Fuel to the Fire — Then Buying Fire Insurance According to Margin Call — the most recent movie to tackle the Wall Street-authored financial bust — the honchos running the nation’s biggest investment banks realized too late that the market for mortgage-backed securities was going to collapse. So, literally overnight, they did a 180, dumping their...Read More
Goldman-Speak for “Mug” Too-big-to-fail firms have become loss transmitters and accelerators to the rest of the system. –“An Ex-Goldman Partner Lets Loose on Wall Street“; Time (2/2/2010). Hmm . . . “loss transmitter and accelerator??” By the same logic, I suppose that the recent, devastating Haiti earthquake was “a focused diffusion of geologic energy.” Or...Read More
