This is Sleeping With Bieniemy's Typepad Profile.
Join Typepad and start following Sleeping With Bieniemy's activity
Join Now!
Already a member? Sign In
Sleeping With Bieniemy
Recent Activity
Yeah, I think I was about 22 when I read When Genius Failed, so likely I didn't have a good handle on the nuances anyway. I see your point. Ritholtz works that bailout nicely into his broader narrative of the history of bailouts though...and since his broader narrative is so convincing, I guess it just struck me as being a fair example. I don't think "moral hazard" is necessarily overrated but I do think the more malicious characteristics assigned to it are overrated. It's not that everyone is lending/betting with the explicit knowledge that they can take advantage of the gov't and taxpayers if things go badly. I just think people generally have no idea how risky the loans they are making really are or how incapable they are of managing the risk.
Toggle Commented Jul 13, 2010 on Book Review: Bailout Nation at A Dash of Insight
1 reply
I have read this book and When Genius Failed (on LTCM) as well and tend to agree with Jason C's comments on the Moral Hazard point. I think it's less about the fact that LTCM partners/principals/investors suffered losses but that a lot of their counterparties/lenders that allowed them to get so leveraged got to walk away intact (scared perhaps, but intact). It seemed to falsely reinforce the idea that the current system could handle systemic risk.
Toggle Commented Jul 12, 2010 on Book Review: Bailout Nation at A Dash of Insight
1 reply
1. Done 2. You screw these things up when you have limited time to throw something up 3. Thanks
I am well aware of the community fund and it has Marvin's name on it, not Mike Brown's, which is why I ignored it because I don't want to give too much credit to Mikey even if he does support it. Obviously that was Marvin's brainchild as there was no LeBeau, Coslet or Shula community fund? Certainly there is no Bengals community fund. Pal - you have some documentation about that retractable dome and convention center stuff? Would love to see it.
Urge to kill rising...
I have always been willing to give Chad the benefit of the doubt with his antics this offseason as I think anyone can break down after spending enough time in a Mike Brown-led organization. But crossing Golden Boy Carson is clearly a no-no in Bengaldom. I concur that it is time to do something. Here would be my favorite options: 1)Trade him for at least 50 cents on the dollar to a complete disaster of a franchise (like ours!) with a terrible quarterback. Benefit: pure schadenfreude with potential to get a decent to great player back. 2)Never trade him, never play him. Benefit: pure schadenfreude with potential for Ewing Theory to kick in. 3)Get best value possible even if it means Chad ends up somewhere desirable. Benefit: a rational, non-emotional decision that gets us something back for a Hall of Fame talent. My guess is that management will find some way to botch this situation. I hate everything about this. I would rather pay 5 dollars to have Tim Krumrie kick me in the balls than read about this crap anymore.