Thursday, August 16, 2007

10 reasons Titanic was actually a subprime RMBS

  1. The downside was not immediately apparent
  2. It went underwater rapidly despite assurances it was un-sinkable
  3. Only a few wealthy people got out in time
  4. The structure appeared iron-clad
  5. Nobody really understood the risk
  6. The disaster happened overnight London time
  7. Nobody spent any time monitoring the risk
  8. People spent a lot trying to lift it out of the water
  9. People who actually made money were not in original deal
  10. Despite the disaster, people still went on other ships

No comments:

Lunch is for wimps

Lunch is for wimps
It's not a question of enough, pal. It's a zero sum game, somebody wins, somebody loses. Money itself isn't lost or made, it's simply transferred from one perception to another.