Insurance Package Quotes & Sayings

Goldman Sachs itself - and so Goldman was in the position of selling bonds to its customers created by its own traders, so they might bet against them. Secondly, there was a crude, messy, slow, but acceptable substitute for Mike Burry's credit default swaps: the actual cash bonds. According to a former Goldman derivatives trader, Goldman would buy the triple-A tranche of some CDO, pair it off with the credit default swaps AIG sold Goldman that insured the tranche (at a cost well below the yield on the tranche), declare the entire package risk-free, and hold it off its balance sheet. Of course, the whole thing wasn't risk-free: If AIG went bust, the insurance was worthless, and Goldman could lose everything. Today Goldman Sachs is, to put it mildly, unhelpful when asked to explain exactly what it did, and this lack of transparency extends to its own shareholders. If a team of forensic accountants went over Goldman's books, they'd be shocked at just how good Goldman is at hiding things, — Michael Lewis

Until the 1930s, the Constitution served as a major constraint on federal economic interventionism. The government's powers were understood to be just as the framers intended: few and explicitly enumerated in our founding document and its amendments. Search the Constitution as long as you like, and you will find no specific authority conveyed for the government to spend money on global-warming research, urban mass transit, food stamps, unemployment insurance, Medicaid, or countless other items in the stimulus package and, even without it, in the regular federal budget. — Robert Higgs

Special Agent Brad Wolgast hated Texas. He hated everything about it.
[ ... ] He hated the billboards and the freeways and the faceless subdivisions and the Texas flag, which flew over everything, always as big as a circus tent; he hated the giant pickup trucks everybody drove, no matter that gas was thirteen bucks a gallon and the world was slowly seaming itself to death like a package of peas in a microwave. He hated the boots and the belts and the way people talked, ya'll this and ya'll that, as if they spent the day ropin' and ridin', not cleaning teeth and selling insurance and doing the books, like people did everywhere. — Justin Cronin

Any that is why I think any kind of a stimulus package is going to have to help people who are without work, without a job, help them have health insurance. — John Breaux