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This quote was at the point in the film where banks were keeping prices artificially high until they sold their positions off. Similar is "Banks that bundled ba
by bo1024 6y ago
This quote was at the point in the film where banks were keeping prices artificially high until they sold their positions off. Similar is "Banks that bundled bad debt and bet against it" https://www.nytimes.com/2009/12/24/business/24trading.html https://www.nytimes.com/2009/12/24/business/24trading.html
Basically my take-away was: don't bet against the house, even if it's crumbling. Because they won't agree you've won the bet until they resell it off to some other sucker; or they'll declare bankruptcy and you won't get paid; or they'll get bailed out and you'll be wrong even though you were right. [I'm not a finance person, so this is all a layperson's interpretation.]