Tuesday, March 18, 2008

Moral Hazard

"Thank you for calling Buy-a-Bank," said an e-mail from a long-time reader.

"Please listen carefully as our menu items have changed.

For Mandarin, press 1.

For Arabic, press 2.

For takeover of Bear Stearns, press 3.

For Lehman Brothers, press 4.

For any monoline insurer, press 5.

To purchase residual assets of defunct hedge funds, please stay on the line and an operator will assist you."

No comments: