If a hurricane is another night in a bad marriage, a tornado is a blind date.
I was gonna put him on the bus...I got tired of him talking, it was time for him to go home.
Household was making loans at a faster pace than ever. A big source of its growth had been the second mortgage. The document offered a fifteen-year, fixed-rate loan, but it was bizarrely disguised as...
From the end of 2005 until the middle of 2007, Wall Street firms created somewhere between $200 and $400 billion in subprime-backed CDOs: No
First, when all investors were doing the same thing, he would actively seek to do the opposite. The word stockbrokers use for this approach is contrarian. Everyone wants to be one, but no one is, for...
Every systemic market injustice arose from some loophole in a regulation created to correct some prior injustice.
But if you worry about everything, you wind up worrying about nothing.
Resistance to understanding a threat grows with proximity, writes Kate Brown.)
There must be some connection between his excessively romantic attitude toward computer programming and his appeal to women.
The knowledge that is never created, because you have ceased to lay the groundwork for it.
A thousand people don’t build anything; if you need to build something really complicated really fast, you hire fifty of the smartest people you can find.
Writing a check separates a commitment from a conversation. —Warren Buffett
Why did investment banking pay so many people with so little experience so much money? Answer: When attached to a telephone, they could produce even more money. How could they produce money without ex...
When you’re a conservative Republican, you never think people are making money by ripping other people off,
Walking through the ruins, she saw all over again what she had seen so many times: how much better Americans were at responding to a disaster than preventing it.
This was only one of many recent changes along the capitalist food chain. Wall Street had gone from being the celebrities of the money culture to being its lackeys.
This gorgeous financial myopia was common in the Valley, and one of the chief sources of its success.
They actually spent time wondering how people who had been so sensationally right (i.e., they themselves) could preserve the capacity for diffidence and doubt and uncertainty that had enabled them to...
There was one sure way, and only one sure way, to get ahead, and everyone with eyes in 1982 saw it: Major in economics; use your economics degree to get an analyst job on Wall Street; use your analyst...
There is nothing more satisfying to me, he said, than to create a complete self-contained world when a computer is controlling it.