Friday, February 20, 2015
Humbling Wall Street: So it happened
We have to be patient with America, which loves to learn the most important lessons the hard way. Even as I write this, I recall articles I just read about Obama telling a meeting of leaders against terrorism a strategy remarkably similar to ours. They had as usual begun with using the military to nix the unsolvable problem. After more than a decade they are finally learning.
People now worry about sub prime coming back here and there especially in automobile financing but I think that is exaggerated. I don't know for sure. The nature of this business is even if I know I won't say so publicly because it will do funny things to your thinking. Very rarely are you almost completely sure.
Update: Feb 23 10:00 pm
Most telling for this behemoth.
Posted by PengYou at 8:57 PM