If the mortgage bonds were the match, then the CDO’s were the kerosene soaked rags. And the synthetic CDO was the atomic bomb with a drunk president holding his finger over the button. It was at that moment in that dumb restaurant with that stupid look on his face that Mark Baum realized, the whole world economy might collapse.
I don’t know how to be sarcastic. I don’t know how to be funny. I don’t know how to work people. I just know how to read numbers.
For fifteen thousand years, fraud and short sighted thinking have never, ever worked. Not once. Eventually you get caught, things go south. When the hell did we forget all that?
While the whole world was having a big old party, few outsiders and weirdos saw what no one else could.
We live in an era of fraud in America. Not just in banking, but in government, education, religion, food. Even baseball…