d by dy

On ratings agencies’ current underrating: “Our role is to get down the hill after the battle and shoot the wounded.”

Q: Don’t you wish everyone couldd be home owners?  A: “Yes, I also wish I could eat a lot and not gain weight.”

Criticizing withdrawing rental assistance after 5 years:  similar to Marie Antoinette — let people who cannot afford rent to become homeowners.

On CDS:  the analogy is writing life insurance on vampiers.  Then vampiers started to die.

On attractiveness of high-risk investments:  “If something’s growing like a weed, it’s probably a weed.”

On Fannie/Freddie: quoting Warren Buffet, “When the tide goes out, you see who’s been swimming naked.”

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