There are no atheists in foxholes or ideologues in a financial crisis. Ben Bernanke
Andrew Ross SorkinTag: crisis ideology pragmatism
The numbers were, at best, guesstimates, and all three men knew it. The relevant figure would ultimately be the one that represented the most they could possibly ask from Congress without raising too many questions. Whatever that sum turned out to be, they knew they could count on (Interim Assistant Secretary of the Treasury) Kashkari to perform some sort of mathematical voodoo to justify it:
Andrew Ross SorkinEveryone thinks Goldman is so fucking smart,” he railed. “Just because Goldman says this is the right valuation, you shouldn’t assume it’s correct just because Goldman said it. My brother works at Goldman, and he’s an idiot!
Andrew Ross SorkinTag: goldman-sachs
While the financial crisis destroyed careers and reputations, and left many more bruised and battered, it also left the survivors with a genuine sense of invulnerability at having made it back from the brink. Still missing in the current environment is a genuine sense of humility.
Andrew Ross SorkinTag: wall-street hubris financial-crisis-of-2007-2011
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