I'm posting this here for greater eyeballs.
I read Too Big To Fail twice. I'm not financial expert, far from it, but some of the details in the book disturbed me. Questions that remain unaswered. Warren Buffett called COD's "weapons of mass destruction", yet did nothing about it. He had two opportunities to make his mark and did nothing. James Cayne sabotaged his bank, Bear Stearns with CODs, Buffett deferred. Jamie Dimon stepped up to the plate, that left the JP Morgan-Chase CEO powerless to prevent Lehman Brothers from going over the edge. In December 2007, he saw what was coming and could have intervened, he could have remade himself into the JP Morgan of the 21st Century. He chose to sit on the sidelines and stayed there when Sept 16 2008 smashed Wall Street. What did he do - he helped himself to an ownership stake in Goldman Sachs.
At the end of it all, Too Big To Fail is pulp propaganda even though much of it is factual. When it concerns Buffett, who owns Viking Press, it's a fairy tale. Buffett is not an oracle he is in fact one of America's foremost rent seekers.
...at least with the Koch Bros, you know where they're coming from.
I read Too Big To Fail twice. I'm not financial expert, far from it, but some of the details in the book disturbed me. Questions that remain unaswered. Warren Buffett called COD's "weapons of mass destruction", yet did nothing about it. He had two opportunities to make his mark and did nothing. James Cayne sabotaged his bank, Bear Stearns with CODs, Buffett deferred. Jamie Dimon stepped up to the plate, that left the JP Morgan-Chase CEO powerless to prevent Lehman Brothers from going over the edge. In December 2007, he saw what was coming and could have intervened, he could have remade himself into the JP Morgan of the 21st Century. He chose to sit on the sidelines and stayed there when Sept 16 2008 smashed Wall Street. What did he do - he helped himself to an ownership stake in Goldman Sachs.
At the end of it all, Too Big To Fail is pulp propaganda even though much of it is factual. When it concerns Buffett, who owns Viking Press, it's a fairy tale. Buffett is not an oracle he is in fact one of America's foremost rent seekers.
...at least with the Koch Bros, you know where they're coming from.