The Fundamentals of the Economy Are Strong…

Just substitute the above expression for “risky credit default swap” and it will all work out quite nicely.

And the CEO of the ISDA… the trade group behind this whole over-leveraged, entirely mysterious “shadow market” of completely insane, wholly absurd financial contraptions…?

Robert G. Pickle (aka — Bob Pickle). I kid you not.

Update:
I stand corrected. Pickel… not Pickle. (That made a big difference, didn’t it?) Now we’re in a PICKEL!

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10 Comments

Filed under Economy

10 responses to “The Fundamentals of the Economy Are Strong…

  1. Carrie

    I was half paying attention to that last night. Thanks for sharing this.

    The crux of the problem seems to be this quote – “you can’t model human behavior with math” and yet they did.

    I wonder if the Wall street bailout would have happened if this news was available before the vote.

    It’s not looking good for the world finances.

  2. Why don’t the Liberals make an election commercial that plays back-to-back Harper and McCain (or Bush) saying “the fundamentals of the economy are strong”?

  3. You would think they might, wouldn’t you?

  4. Ti-Guy

    Sorry to ruin your pun, but it’s Robert Pickel, which is German for “pimple.” And what is possessing that man to smirk like that in the interview remains a complete mystery.

  5. Carrie

    It’s german for pimple??! That poor man.

    I read somewhere the other day that Al Qaeda was named by the CIA and it means “the file”. No idea how much truth exists in that but it was an interesting bit of info.

  6. You should watch The Power of Nightmares if not for the first time, then again… Al Qaeda was largely a legal fabrication that arose out of the first WTC bombing.

  7. Carrie

    It would be the first time for me :) I’ve never cared this much about politics before so I’m catching up a fair bit on historical things.

    I’ll Google and find it. Thanks RT.

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