Remember when this became our litmus test for who had spent the time hitting the books, or whatever, to get informed, at least a little bit, before ... leaping?
I propose that we set a new standard: Do you know what a synthetic CDO is?
If you can't really describe this in simple terms, which is no easy task, admittedly, and you are a policy maker, you need to go to school / get a briefing.
Policy makers and regulators who have thrown their hands up at the 'complexity' and prefer to just "stand by" to address problems with a big bucket of capital cannot be proactive.
I suppose others can come up with their litmus test. But right now, that one is high on my list of things to get a grip on.
Friday, November 14, 2008
Shia Sunni - do you know the difference?
