I meant 2007. Funny story, I was riding in a cab to the airport in Ostia to come home and the cab driver ( also owner). Asked me if i was worried that our housing bubble was going to take the whole world's economy down with it when it popped. The market was two weeks away from 14K. I asked him why he thought that and surprisingly he in retrospect this Italian cab driver knew in pretty stark detail how and why it would do what it in fact did the next yr.! if an Italian cab driver knew in fall 2007 what was in store for all of us , then u can bet your bottom dollar that Paulson, Bernake, Greenspan and the rest knew.
Interesting story. I wonder if it at all demonstrates that the Europeans are more informed. The news we get seems like propaganda and they hit on this make everything titillating to keep everybody in a stupor.
As far those guys knowing what was coming, the only question is what did they manipulate to their own advantage in order to profit. I think throwing out the uptick rule was one thing.
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I love Italy. Been a few times. Was in Pompeii / Naples in 2006.
I meant 2007. Funny story, I was riding in a cab to the airport in Ostia to come home and the cab driver ( also owner). Asked me if i was worried that our housing bubble was going to take the whole world's economy down with it when it popped. The market was two weeks away from 14K. I asked him why he thought that and surprisingly he in retrospect this Italian cab driver knew in pretty stark detail how and why it would do what it in fact did the next yr.! if an Italian cab driver knew in fall 2007 what was in store for all of us , then u can bet your bottom dollar that Paulson, Bernake, Greenspan and the rest knew.
Interesting story. I wonder if it at all demonstrates that the Europeans are more informed. The news we get seems like propaganda and they hit on this make everything titillating to keep everybody in a stupor.
As far those guys knowing what was coming, the only question is what did they manipulate to their own advantage in order to profit. I think throwing out the uptick rule was one thing.
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