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Re: Job #1: Making Hank happy
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Originally Posted by Adder
They kept an aweful lot of crap on their own books to have not been drinking the cool aid at least a bit.
And, of course, the premise of books like The Big Short is that it was only a small handful of folks who weren't drinking the cool aid pretty much up until the burst.
But it's a fair bet that there will be individuals within each bank who saw the sky falling. With hindsight, I'm sure there will be many opportunities to portray those folks as the keepers of the bank's true knowledge and belief.
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I think part of the reality of the situation is that even if you aren't drinking the Kool-Ade and think that there's a bubble, you can get killed betting against it if you don't get the timing right, because the market keeps going up as long as enough people keep betting on it.
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“It was fortunate that so few men acted according to moral principle, because it was so easy to get principles wrong, and a determined person acting on mistaken principles could really do some damage." - Larissa MacFarquhar
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