{"id":644,"date":"2008-11-17T08:03:07","date_gmt":"2008-11-17T15:03:07","guid":{"rendered":"http:\/\/stardel.com\/eg\/?p=644"},"modified":"2008-11-26T18:49:52","modified_gmt":"2008-11-27T01:49:52","slug":"the-end-is-just-the-again-beginning","status":"publish","type":"post","link":"https:\/\/stardel.com\/eg\/2008\/11\/the-end-is-just-the-again-beginning\/","title":{"rendered":"The end is just the again beginning"},"content":{"rendered":"

I found this interesting article<\/a> by Michael Lewis<\/a>, the author of Liar’s Poker<\/em><\/a>, discussing a bit of what’s been happening on Wall Street in the twenty years since he left. I liked Liar’s Poker<\/em> when it came out and find it disturbing that the next generation of Wall Streeters found it to be a useful how-to manual.<\/p>\n

There is an object lesson somewhere in all this involving doom-sayers, pessimists, and people trying to see the dreams all the while ignoring the nightmares. How to make reality the nightmare? Ignore it for a while. Wall Street seems very good at ignorance.<\/p>\n

Eisman was appalled. “Look,\u201d he said. \u201cI\u2019m short. I don\u2019t want the country to go into a
\ndepression. I just want it to fucking deleverage.\u201d He<\/em> had tried a
\nthousand times in a thousand ways to explain how screwed up the
\nbusiness was, and no one wanted to hear it. \u201cThat Wall Street has gone
\ndown because of this is justice,\u201d he says. \u201cThey fucked people. They
\nbuilt a castle to rip people off. Not once in all these years have I
\ncome across a person inside a big Wall Street firm who was having a
\ncrisis of conscience.\u201d<\/p><\/blockquote>\n

Even I, an uneducated fiscal novice, could see that a house of cards was being built with my, and everyone’s, money for the past decade. And it was being built in an earthquake zone. And I was asking at every chance “how can I protect my investments?”\u00a0 And knowledgeable folks couldn’t help me. Even those that agreed that an earthquake was coming didn’t have any viable alternatives. Now I see, I should have shorted the mortgage\/CDO\/CDS market.<\/p>\n

via:<\/em><\/small><\/small><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

I found this interesting article by Michael Lewis, the author of Liar’s Poker, discussing a bit of what’s been happening on Wall Street in the twenty years since he left. I liked Liar’s Poker when it came out and find it disturbing that the next generation of Wall Streeters found it to be a useful … Continue reading The end is just the again beginning<\/span> →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[4],"tags":[48],"class_list":["post-644","post","type-post","status-publish","format-standard","hentry","category-economics","tag-economics"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p4NpF-ao","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/posts\/644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/comments?post=644"}],"version-history":[{"count":2,"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/posts\/644\/revisions"}],"predecessor-version":[{"id":645,"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/posts\/644\/revisions\/645"}],"wp:attachment":[{"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/media?parent=644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/categories?post=644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stardel.com\/eg\/wp-json\/wp\/v2\/tags?post=644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}