Quote of the Day: Vampire Squid Edition
From Goldman Sachs vice president Fabrice Tourre, on January 23, 2007, as he was in the process of putting together a CDO offering that was specifically designed to implode:
More and more leverage in the system, The whole building is about to collapse anytime now...Only potential survivor, the fabulous Fab[rice Tourre]...standing in the middle of all these complex, highly leveraged, exotic trades he created without necessarily understanding all of the implications of those monstruosities!!!
Well, I guess he understands the implications now.