“I was the only guy I knew covering companies that were all going to go bust,” he says. “I saw how the sausage was made in the economy, and it was really freaky.”
Yep. I've had that sinking feeling.
Realizing that it isn't you. That there isn't anything to "get." It doesn't make sense, because it doesn't. That those around you really don't have any idea just what they're doing, step #2, or what Plan B is.
I didn't liked that article at all. Better saying i feel duped by those kind of articles that follow a person that we don't know much and have no way to know enough to give an opinion.
At certain places the article seems really weird and streching credibility.
Well, I did enjoy the article (I first read it about a month ago). I have been involved in the mortgage/securitization business for 20 years, and I know first-hand enough of what Lewis reports to believe him about the rest. Most eye-opening to me was that part about credit-default swaps; they're a new enough invention that I've had no personal dealings with them and didn't really understand how they work. Still, I had a general suspicion about them, and now I see that it was justified.
Niel Ferguson is not even a good historian - for example he (endlessly) claims that the Bank of England's finance of the British government was copied from the Dutch (in reality the Bank of Amsterdam, the only bank the man can be talking about, was famous for NOT being fractional reserve).
As for citing the Scotsman as a economist.........
Paid for by the government of the Cayman Islands.
I do not know whether the C4 series was good or bad - but the Cayman Islands thing reminds me of the sad decline of this place.
Only a few years ago the Cayman Islands were not a Welfare State - now they have joined the parade.