Jacob A. Frenkel - AIG vice chairman, former Israeli central banker, and wanker:
Jan. 30 (Bloomberg) — At the World Economic Forum two years ago, Nouriel Roubini warned that record profits and bonuses were obscuring a “hard landing” to come. “I really disagree,” countered Jacob Frenkel, the American International Group Inc. vice chairman and former Israeli central banker.
No more. “Roubini was intellectually courageous, and he called the shots correctly,” says Frenkel, whose AIG survives only on the basis of more than $100 billion of government loans. “He gained credibility, and he deserves it.”
This is what happens when you fuck with Roubini.
I saw it coming as well and I'm not an economist. (Although these days it seems that is tantamount to being a shill for the robber barons.) Interesting to watch as the elite, all-knowing (*gack*) financial manipulators are now backpeddling - after they've stuffed their offshore bank accounts.
Oy Vey!
Posted by: Dr. Know | January 30, 2009 at 10:56 AM
Hey, it's not their fault: the logarithms made then do it. What's a little bad math between friends?
Posted by: mandt | January 30, 2009 at 12:19 PM
Another by-product of BushCo edumacation.
Yup, mandt, logarithms excruciatingly tweaked and tuned by the finest of GOP think-tanks and pink-handed moneychangers.
When you are skinning your customers you should leave some skin on to grow again so that you can skin them again.
Nikita Khrushchev
Posted by: Dr. Know | January 30, 2009 at 04:55 PM
Interesting from this side of the pond to note how any of the 'Big Guys' in financial institutions are Jewish. mmmmmmmm.....Is that factual or am I sounding racist in surmising it ?
Posted by: Mike | February 28, 2009 at 01:46 PM