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February 14, 2009

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I am Jack's complete lack of surprise

Come on analyst, bankers* brought this upon themselves. If anything congress isn't being harsh enough. Just because they don't have any idea what they're talking about doesn't mean congress isn't right. If Uncle Vikie were still running Old Lane, he'd have been margin called into oblivion. The guy couldn't generate alpha when prices were going up, let alone down.


*and by bankers I mean the structured products mathletes who think price are particles.

Anal_yst

Agreed with your asterix, although regulators, legislators, and managers who didn't understand the implications of their work didn't help matters much now did they?

I am Jack's complete lack of surprise

i mean come on analyst, you lose all your money, you go broke. Since those rules don't apply to the banks, then a public scolding is the least they can endure. Notice Dick Fuld wasn't present, if Bandit&Co want to join Fuld in the fail then they can return the TARP funds and sell their art collection. (hope their wives were as smart as Fuld's and got puts from Sotheby's on their collection... Maybe they should have let Lady Fuld run risk management at Lehman)

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