MICHAEL LEWIS ~ THE BIG SHORT ~ 2010

~ HDYMPPFWWWAS?-YGTCL ~ How Do You Make Poor People Feel Wealthy When Wages Are Stagnant? – You Give Them Cheap Loans

~ BTCADH-EOWS ~ Bad Things Can And Do Happen – Especially On Wall Street

~ WAYAMTBABYOFIC-A-AFTRATM? ~ “Why Are You Asking Me To Bet Against Bonds Your Own Firm Is Creating – And – Arranging For The Rating Agencies To Mis-Rate?”

~ TCYWTTM-THIWTPIF ~ The Closer You Were To The Market – The Harder It Was To Perceive Its Folly

~ TSMMHASTFOWNTBC ~ The Subprime Mortgage Market Had A Special Talent For Obscuring What Needed To Be Clarified

~ TMATBIOL ~ The Market Appeared To Believe Its Own Lie

~ TIA? ~ This Is Allowed?

~ WATRAOAT? ~ “Where Are The Ratings Agencies In All This?”

~ ALOTBFOWSDNUTOR-AWIP ~ A Lot Of The Biggest Firms On Wall Street Did Not Understand Their Own Risks – And Were In Peril

~ FTMPWTFTMFSOF ~ Far Too Many People Were Taking Far Too Many Financial Statements On Faith

~ L&W ~ Long And Wrong

~ ITMTETPWRBWSFTSPE-SSMOTLDOPBTWTDCBTIPE ~ It’s Too Much To Expect The People Who Run Big Wall Street Firms To Speak Plain English – Since So Much Of Their Livelihood Depends On People Believing That What They Do Cannot Be Translated Into Plain English

~ TBWSF-SSSASI-HSBTDM-TPWRTDNUTOB-A-TROKELN ~ The Big Wall Street Firms – Seemingly So Shrewd And Self-Interested – Had Somehow Become The Dumb Money – The People Who Ran Them Did Not Understand Their Own Businesses – And – Their Regulators Obviously Knew Even Less

~ TWTPWM:WPDWIHC-B-TWSRFTOATTMNCTOWTO ~ That Was The Problem With Money: What People Did With It Had Consequences – But – They Were So Remote From The Original Action That The Mind Never Connected The One With The Other

~ TPWTLBHBATF-TPWTLBHBATS ~ The Problem Wasn’t That Lehman Brothers Had Been Allowed To Fail – The Problem Was That Lehman Brothers Had Been Allowed To Succeed

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