PS, this a a good time to remind all you jackasses that were against govt action during the early days of the crisis to
Even Warry figured this one out, did you? "Sleeping around, to continue our metaphor, can actually be useful for large derivatives dealers because it assures them government aid if trouble hits. In other words, only companies having problems that can infect the entire neighborhood â I wonât mention names â are certain to become a concern of the state (an outcome, Iâm sad to say, that is proper). From this irritating reality comes The First Law of Corporate Survival for ambitious CEOs who pile on leverage and run large and unfathomable derivatives books: Modest incompetence simply wonât do; itâs mindboggling screw-ups that are required."