Name That Financial Debacle!
The following quotes are from a book describing a real set of events:
[The incident] is an extraordinary example of what happens when you get… a dozen people with an average IQ of 160… working in a field in which they collectively have 250 years of experience… employing a ton of leverage.
It’s hard to overstate the significance of a [government-led] rescues of a private [corporation]. If a [company], however large was too big to fail, then what large [company] would ever be allowed to collapse? The government risked becoming the margin of safety. No serious consequences had come about in the end from the… near-meltdown.
Was the incident:
a) The savings and loan scandal
b) The collapse of Enron
c) The sub-prime mortgage meltdown
d) none of the above
First correct answer gets to invest in an exciting new bridge project I’m involved with in New York!
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4 Responses to “Name That Financial Debacle!”
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Rafe Furst
I believe the scientific method as currently practiced is incomplete. ”Science 2.0″ is emerging, and the lessons from complex systems theory are a big part of what’s missing. This has more than theoretical implications; the biggest challenges we face are due to a general ignorance of — and a willful dismissal of — the realities of an increasingly complex, interdependent world. To learn what else I’m interested in visit RafeFurst.com.
Enron.
Me Me Me, I know the answer. I don’t want to ruin it so I’ll just give a string of hints (no Googling)
Hint #1 Warren Buffett was on vacation.
Loved That Clue, Mister!
Hint #2: Don’t play them at Liar’s Poker