Stop Blaming Hedge Funds
And read the real reason for the credit crunch: poor people! I laughed out loud when reading this hilarious parody from Michael Lewis on the sub-prime meltdown:
“Don’t get me wrong: I have nothing personally against the poor. To my knowledge, I have nothing personally to do with the poor at all. It’s not personal when a guy cuts your grass: that’s business. He does what you say, you pay him. But you don’t pay him in advance: That would be finance. And finance is one thing you should never engage in with the poor. (By poor, I mean anyone who the SEC wouldn’t allow to invest in my hedge fund.)
That’s the biggest lesson I’ve learned from the subprime crisis.”
And this cracker of a quote:
“Lending money to poor countries was a bad idea: Does it make any more sense to lend money to poor people? They don’t even have mineral rights!”
