Posted on 11/16/2008 3:24:58 PM PST by GregoryFul
"I blame the central banks," growled the bond trader, stabbing the air with a forkful of raw steak. "If Alan Greenspan hadn't kept interest rates so low at the start of this decade, we wouldn't be in this mess. Talk about refilling the punch bowl when the party guests are already as drunk as skunks!"
"We told you we were not in the business of identifying bubbles, let alone trying to puncture them," replied the central banker, nibbling at a lettuce leaf. "We warned you that credit spreads, emerging-market yields and volatility in stocks and bonds were all too low, and that you were under-pricing risk." ... The waiter coughed, proffering a slim leather folder containing the reckoning for the evening's entertainment.
"You are a taxpayer, I take it?" asked the investment banker. The waiter nodded. "In which case, we were rather hoping you would foot the bill."
(Excerpt) Read more at kitco.com ...
Humor? I seriously doubt it.
And Nadler attributed it to Bloomberg of the morning of 11/14. Just trying to be as accurate as I can.
Its only paper
I don’t think that giving loans to people who were qualified had anything to do with the meltdown.
So it is. I want no acts of vengence.
Nor do I.
You want me to move it to General/Chat/Books/Literature?
>”You are a taxpayer, I take it?” asked the investment banker. The waiter nodded. “In which case, we were rather hoping you would foot the bill.”
Sadly true.
Well, it is funny. Ok.
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