大而不倒

will there be a soft landing, or will the bubble burst ? we are limiting our options at a time when we have very few, if any, available. it is very important for us not to introduct regulation for regulation's sake. Owning a home is a part of American dream. if your stock price keeps sliding, you may get an offer at a price that doesn't look all that compelling, but you may have to take it just to keep the company intact . we do what we can do. The amount of debt your country carries is a terrible vulnerability. Even in the US, it seems the relationship between the government and private industry isn't so simple. Very large purchase assistance package. Legally, we haven't figued out how yet. Wall Street has a gambling problem, If government keeps covering their losses, they never learn anything. Lehman is problematic, but there's value there. We have to make it clear that this is their problem, that we are their advisors and their allies, but we are not their safety net. We don't deal with things until there's some kind of emergency on the table. We don't deal with things until Friday. Confidence is a very fragile thing. And in our financial markets, it is eroding very quickly. it is a lot of risk, no question, but if you stay in the game, we all will find a private solution absolutely. I know it's not good for Lehman, but I have to take care of Merrill. why would you bail out people whose sole job is to make money ? We don't want to import your cancer.

the buyer, the regular guy on the street, assumes that the experts know what they're doing. He's saying to himself, " if the bank's willing to loan me money, I must be able to affort it.“ The banks knew securities based on shitbag mortgages were risky. So to control their downside, the banks started buying a kind of insurance. If mortgages default, insurance company pays, default swap. The banks insure their potential losses to more the risk off their books so they can invest more, make more money . What do I say when they ask me why it wasn't regulated ? No one wanted to, we were making too much money . There's not a bank in the world that has enough money in its vault to pay its depositors it's all built on trust. Credit has the ability to build a modern economy, but lack of credit has the power to destroy it, swiftly and absolutely. They almost bring down the US economy as we know it, but we can't put restrictions on how they spend the 125 billion we're giving them, because they might not take it.