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"Fools Gold" JPM and revlution in structured fina

rffrydr
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Joined: 30 Oct 2005
Posts: 16445
Location: Sunny California

Posted: Wed May 13, 2009 1:24 pm Post subject: "Fools Gold" JPM and revlution in structured fina

http://www.thisismoney.co.uk/book-reviews/article.html?in_article_id=484607&in_page_id=&ito=1565

Quote:

Guns don't kill people. People kill people.

Interview on Bloomberg:

http://media.bloomberg.com/bb/avfile/Economics/On_Economy/vNvKl8G477.A.mp3

Triply ironic that these sound minds (whose jobs did NOT depend on produce or perish) would have developed, then rejected, synthetic mortgage structures; developed, then rejected SIVs and saw the illogic of 200 billion of anything (even AAA CDOs on their balance sheet)--AIG be (and most certainly is) damned.

So how much of our out-of-control half-decade to we put at the feet of "healthy competition?" Why make one dragon movie when we can make five? That's how hollywood does it.
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