Nassim Taleb Says Geithner’s Bank Plan Will Fail

[Daal]

Quote from piezoe:

Taleb, according to the article, did not bother to tell us why the Geithner plan would fail, but only that it would. I'd like to know the Why. "Too limited" just doesn't do it for me. I fail to see the connection between the plan's unfairness to tax payers and its likely failure. To give Taleb his due, this was afterall a news story, and as such may have little relationship to what Taleb actually said.

Right. Taleb sometimes let his anger get in the way of his brillance, he didnt provide a single reason on why the program will fail. That was just a populist rant

 

[gigsup]

Quote from AAAintheBeltway:

Hard to disagree with him. We need to be moving towards smaller financial institutions, because their failures would not be so traumatic. Instead, the government is doing the opposite, propping up a handful of too-big-to-fail incompetents. Taxpayer money is going by the hundreds of billions into the worst of the worst, forcing us to pay for their mistakes.

Get rid of these idiots and put Volcker, Isaac and Seidman in charge.

Amen. Except Volcker has sold out this time to win favor according to Jim Sinclair.

 

[stock777]

Quote from niceneasy:

there are 5 certainties in life

death, taxes, and roubini+ taleb+ rogers will be bearish/gloom and doom. if the dow was at 300, they would say its going to 150 and this is their finest hour.

This may be true, but that doesn't mean it's not going to 150

 

[moonlightxpress]

Quote from stock777:

Who isn't overrated may I ask?

there is overrated and there is highly overrated...he is highly overrated

 

[LVMises]

Quote from ByLoSellHi:

http://www.bloomberg.com/apps/news?pid=20601087&sid=a7DbIc6WLhmU&refer=home

Taleb Says Geithner Bank Plan Is Too Limited, Will Fail April 1 (Bloomberg) -- Nassim Nicholas Taleb, author of the best-selling finance book "The Black Swan: The Impact of the Highly Improbable," talks with Bloomberg's Erik Schatzker about U.S. Treasury Secretary Timothy Geithner’s plan to remove toxic assets from bank balance sheets.

I wonder, will this failure be a random, or non-random event?

 

[ASusilovic]

Quote from LVMises:

I wonder, will this failure be a random, or non-random event?

It will be nasty by nature !