A dead camel is bigger than a horse

Iliana 2022-12-03 15:55:48

I haven't watched "The Guardian", but many people say that "Too Big to Fail" is not real enough because it beautifies Paulson.

Whatever Paulson's real situation is, I have to admire him and his team for being too big to fail. Everyone is racing against time, hoping that the name "American Emperor" will not be missing a word. Sleepless all night, unknown outsiders, all kinds of problems piled up together, and they will definitely collapse if they are placed on others, but these few people use their own strength to unite the strength of more people-the strength of those self-righteous CEOs who refuse to cooperate, and then In the end, the entire crisis was resolved.

To be honest, after watching it, I felt completely dumbfounded.

Because I can't understand those professional words, I can't understand many of their measures: for example, I don't understand why it is so difficult to hold a press conference, why I need to get down on one knee to beg Congress to pass, why the fall of Lehman Brothers will cause Wall Street and even the whole country The economic domino effect of the world. As a financial illiterate, what I can feel is that when the financial crisis comes, no one can hold it; The difficulty is not difficult.

In the final analysis, it is: the thin dead camel is bigger than the horse, and ten pairs of chopsticks are constantly breaking.

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Extended Reading

Too Big to Fail quotes

  • Richard Fuld: [on the housing crisis] You know, people act like we're crack dealers. Nobody put a gun to anybody's head and said, "Hey, nimrod, buy a house you can't afford, and you know what? While you're at it, put a line of credit on that baby and buy yourself a boat."

    Joe Gregory: [chuckles] You heard anything from Buffett?

    Erin Callan: He's asking for preferred shares at 40, with a dividend of nine percent.

    Richard Fuld: [annoyed] We were just at 66. What the fuck?

    Joe Gregory: Maybe it's just an opening gambit, Dick.

    Richard Fuld: Sounds more like a goddamn insult!

    Erin Callan: Dick, we're at 36 right now. We haven't been anywhere near 66 in months. The markets like Buffett. His name will push the price up overnight.

    Richard Fuld: You know, I don't care who he is. I am not spending $360 million a year for the pleasure of doing business with him. Real estate will come back.

    Joe Gregory: Koreans have been sniffing around.

    Richard Fuld: There you go. And they won't steal us blind. I've seen this before: CEOs panic and they sell out cheap. Right now, the Street's running around with its hair on fire, but the storm always passes. We stand strong, and on the other side, we'll eat Goldman's lunch.

    Erin Callan: So what do we do about Buffett?

    Richard Fuld: Screw Warren Buffett.

  • Ben Bernanke: [Having breakfast with Henry Paulson] Lehman's down another 10%.

    Henry Paulson: You are not gonna let me get down a single bite, are you?

    Ben Bernanke: This is why I have oatmeal.