From the ’that’s fan-freakin-tastic’ file, or Greenspan = donkey
First off my fantasy football team ‘Les Singes’ is 5-3 and passed all major bye weeks so things are looking good on that front, to illistrate my mood I think a picture is worth 1000 words:
now on to business…..
“… modern risk management paradigm held sway for decades. The whole intellectual edifice, however, collapsed in the summer of last year because the data inputted into the risk management models generally covered only the past two decades, a period of euphoria. Had instead the models been fitted more appropriately to historic periods of stress, capital requirements would have been much higher and the financial world would be in far better shape today, in my judgment.”
Good point Al, it’s too bad that there wasn’t someone that could have helped stop foolish things like this or at least exert great influence against it.
There was someone…..It was you AL, and if anything you promoted it you said CDS’ are a good thing they ‘spread the risk around’.
Meh, I’m sick (like with the common cold) and therefore even more cynical and bitter than normal. Actually not I just think it’s funny that he can come out and say things like this and also the general tone of ‘it’s not may fault, but things were totally screw up and a lot of bad decisions were made’. Well you were in charge it has to be at least a little your fault……then again who cares whose fault it is I guess everyone is looking for someone to blame….
….also LSU’s quarterback threw 5 touchdown passes on Saturday….SWEET!!!
Anyway the weather is great and if I was not sick I would be enjoying it.