Dec 11, 2008
“We made a lot of mistakes. We took in a lot of risk with Bear Stearns and WaMu. If home prices goes down another 25% (Meredith Whitney is predicting another 20% down), it could cost us another $10 to $20 billion.”
Xiang Ji’s Bookshelf
You Don’t Need To Innovate In Finance; You Don’t Need To Invent Anything New
About this website:
This website is not a blog.
It is a collection of links to interesting stuff being passed around.
The most incisive quote ever, (see above: you don't need to innovate in finance, you don't need to invent anything new) is from Emilio Botin at Santander. George Soros echos this point.
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