Op Ed in last Sunday's NY Times by Michael Burry, former CEO of Scion Capital. He apparently was the first person to do CDS deals on MBS securities, targeting the sub-prime sector in 2005.
Few parables are more appropriate to describe the reasons behind why the world’s financial system has crashed for the second time in the past 100 years.To paraphrase the old Pogo comic strip – “It ain't the things you knows that hurts you so, it’s the things you knows that ain’t so.”
This blog is dedicated to examining the process by which we collectively garb our emperors. We will, of course, provide as many examples as we can ;)
We welcome submissions and comments from our readers, especially those relating examples of current naked emperors parading in public. We will verify the accuracy of submissions to the extent possible, including corresponding with the submitters, but will not assume liability for errant attempts by legal beagles to stifle discussion.
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