“The concern is bond investors looking to buy, or especially to sell, will face wide prices swings and higher costs to get a transaction done.”
Elizabeth Warren Misfires on Trade
Citi: This Is Why Wall Street Is Hard-Wired to Produce Bubbles
A weary client once defined a bubble to us: “something I get fired for not owning”
“But stopping to think about things is something we rarely do. And that’s why behavioral economics is important.”
- Start a non-bank business to borrow short, lend long and compete with the banks at lower cost.
- Grow huge and prosper.
- Get so big that you start being regulated like a big bank.
- Split up and start over.