And I'm getting madder and madder and I ask this guy how he sleeps at night knowing he's ripping off working people and he just leaves.
He doesn't say a word.
He just walks away from the lunch. So am I the fucked up one, or is he?
So, mortgage bonds are dog shit
CDO's are dog shit wrapped up in cat shit?
The banks have given us 25% interest rates on credit cards.
They have screwed us on student loans that we can never get out from under.
Then this guy walks into my office
says those same banks got greedy,
they lost track of the market,
and I can profit off of their stupidity?
Fuck yeah, I want him to be right!
[Regarding Vennett] I can't hate him. He's so transparent in what he does, I actually kind of respect him.
Would I buy a car from him?
We live in an era of fraud in America.
Not just in banking, but in government, education, religion, food, even baseball...
What bothers me isn't that fraud is not nice. Or that fraud is mean.
For 15,000 years, fraud and short sighted thinking have never, ever worked.
Not once. Eventually, you get caught, things go south. When the hell did we forget all that? I thought we were better than this, I really did.I'm going to try to find moral redemption at the roulette table.
Holy shit. All this time I've been trying to figure out who it is I'm betting against, and it's Morgan-Stanley. Which is me.We're going to wait and we're going to wait and we're going to wait until they feel the pain until they start to bleed.They knew.
They knew the taxpayers would bail them out. They weren't being stupid, they just didn't care.
I have a feeling in a few years people are going to be doing what they always do when the economy tanks.
They will be blaming immigrants and poor people.