A Banking System Is An Act Of

That Was How A Salomon Bond Trader Thought: He Forgot Whatever It Was That He Wanted To Do For A Minute And Put His Finger On The Pulse Of The Market. If The Market Felt Fidgety, If People Were Scared Or Desperate, He Herded Them Like Sheep Into A Corner, Then Made Them Pay For Their Uncertainty. He Sat On The Market Until It Puked Gold Coins. Then He Worried About What He Wanted To Do.

Everything, In Retrospect, Is Obvious. But If Everything Were Obvious, Authors Of Histories Of Financial Folly Would Be Rich . . .

That's What Happens When You're Thirty-seven Years Old: You Do The Things You Always Did But The Result Is Somehow Different.

People Who Think They Know What They Are Talking About When They Talk About Baseball Include The Announcers And All Of The Sports Press - No Matter How Much Evidence You Present Them To The Contrary They Will Continue To Think That What They Think Is Right.

Wall Street Is Not Being Made A Scapegoat For This Crisis: They Really Did This.