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!

  • Enron.

  • danielhorowitz

    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.

  • Tiltmom

    Loved That Clue, Mister!

  • Wamplerr

    Hint #2: Don’t play them at Liar’s Poker