Alternative to “All or Nothing”? Banks should not be sending demands for larger and larger sums from homeowners in arrears on their mortgage. Instead the bank should offer to lower the monthly payments in return for part-ownership. –Nassim Nicholas Taleb Hmm, there’s an idea. Instead of the bank foreclosing on your home if you can’t...Read More
“It’s a Wonderful (Corporate) Life” . . . Not Banks have never made money in the history of banking, losing the equivalent of all their past profits periodically. –Nassim Nicholas Taleb, “How Bank Bonuses Let Us All Down” (2/24/09)G.M. has become a giant wealth-destruction machine ” possibly the biggest in history. –Thomas Friedman, “Start Up...Read More
