Quote by Ben Stein

The people who did the collateralized mortgage obligations, sold them to pension funds, then sold them short, then bought credit default swap insurance on them, are just amazing. They are a law unto themselves.

The people who did the collateralized mortgage obligations,

Summary

This quote refers to the individuals involved in complex financial dealings known as collateralized mortgage obligations (CMOs). These individuals would sell CMOs to pension funds, then engage in short selling and purchase credit default swap insurance on these same CMOs. The quote suggests that these individuals possess extraordinary knowledge or skills, as well as a high level of autonomy, enabling them to operate outside the typical boundaries of law and regulation.

Topics

Amazing

By Ben Stein

Liked the quote? Share it with your friends.

Random Quotations

I have a book coming out in September, for example, where th

I have a book coming out in September, for example, where the plot concerns counterfeiting, and I had to do a lot of research on that. Or on any legal matters, for example, I have to do a lot of research online.

Legal

But I spent just two calendar years at Cornell University, t

But I spent just two calendar years at Cornell University, though it was covering more than three years of work, and then went to medical school and did become interested in psychiatry, and even helped form a kind of psychiatry club in medical school.

Robert Jay Lifton

Medical

To be clever enough to get all that money, one must be stupi

To be clever enough to get all that money, one must be stupid enough to want it.

Gilbert K. Chesterton

Man

My case is a species of madness, only that it is a derangeme

My case is a species of madness, only that it is a derangement of the Volition, and not of the intellectual faculties.

Samuel Taylor Coleridge

Recovery (addiction/alcoholism)

I never said all Democrats were saloonkeepers. What I said w

I never said all Democrats were saloonkeepers. What I said was that all saloonkeepers are Democrats.

Politics Democracy

I'm not a film buff. I don't watch a lot of movies.

I'm not a film buff. I don't watch a lot of movies.

Denzel Washington

Movies

A minor operation is one that is done on someone else

A minor operation is one that is done on someone else

Dr. Richard Selzer

Doctors

The Indian Summer of life should be a little sunny and a lit

The Indian Summer of life should be a little sunny and a little sad, like the season, and infinite in wealth and depth of tone, but never hustled.

Life

To this day, some of my closest friends say, 'Gaga, you know

To this day, some of my closest friends say, 'Gaga, you know, everything's great. You're a singer your dreams have come true.' But, still, when certain things are said to you over and over again as you're growing up, it stays with you and you wonder if they're true.

Dreams

Art creates an incomparable and unique effect, and, having d

Art creates an incomparable and unique effect, and, having done so, passes on to other things. Nature, upon the other hand, forgetting that that imitation can be made the sincerest form of insult, keeps on repeating this effect until we all become absolutely wearied of it.

Art Nature

The deeper the experience of an absence of meaning -- in oth

The deeper the experience of an absence of meaning -- in other words, of absurdity --the more energetically meaning is sought.

Discovery

It takes people a long time to learn the difference between

It takes people a long time to learn the difference between talent and genius, especially ambitious young men and women.

Louisa May Alcott

Women