Parables and quotes are often an effective way to make complex situations more easily understood. Take the case of the how the smart guys on Wall Street and Washington whose "risk management tools" and "economic philosophy" resulted in our current situation. Their errors can be clarified with a quote by the great boxer and intellectual Mike Tyson:
"Everyone has a plan until they get punched in the face"
-joe
Monday, December 15, 2008
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