Hitting Them Where It Hurts
May 26, 2010 2 Comments
Wow – the ISDA chairman comes out swinging:
Ballsy. If there’s one thing we know politicians and regulators (and folks who cheer them on) don’t like being called, it’s misinformed (or equivalent). That’s because politicians and high-level government bureaucrats, and the lay people who like to cheer on the power grabs of the former, are very fond of their self-images as Smart People.
The Chairman of ISDA just basically called them ignorant and said they don’t know what they’re doing. He’s 100% correct of course, but that is NOT going to sit well with the egomaniacs we call our leaders and representatives. Don’t be surprised if some sort of scandal comes out surrounding this guy. Coincidentally, of course.