“It is hard for us, without being flippant, to even see a scenario within any kind of realm of reason that would see us losing one dollar in any of those transactions.” — Joseph J. Cassano, a former A.I.G. executive, August 2007
Somehow knowing that Joseph Cassano learned his trade from Michael Milkin makes me wonder if the American public isn't doomed to be played as suckers forever by the masters of the universe. After all, the smartest guys in the room got to play the same game in the late 1980s (at Drexel Burnham Lambert), during the Enron crisis in the 90s and once again, going for the big, big money in the 2000s, they went for crashing the world economy. But, you know, they got an awful lot of (our) money. What will they do for an encore in the next decade?