Bruce Richards, Marathon Asset Management CEO reminds us even smart people say dumb things and economics pundits will accept it for ordinary speech without interruption. Speaking to two Bloomberg correspondents, Richards said,
"It's built in, it's structural. The banks must react, see, Dodd-Frank and all that, there's reaction. You know. Like Einstein's theory of Relativity: for every action there's reaction."
It's not rocket surgery.
4 comments:
He got his geniuses crossed up... Or something.
Hey, it's not like he asked whether it was over when the Germans bombed Pearl Harbor.
Wait a minute what is "rocket surgery?"
Is that when Howard fixed the space toilet on the shuttle?
Rocket surgery is when you open up the belly of the rocket and fix the thingy.
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