greed and stupidity, Schumpeter warns us, are boldly venturing into the directors and officers insurance marketplace with a great little product that will cover “damages established by FDIC due to non-intentional wrongful acts or omissions by the executive or director.”
I love these guys.
Talk about the "The Big Short". These guys are short of just about everything.
I mean, how is this a good idea for anyone but criminals and the criminally insane?
WHERE ARE THE REGULATORS???!!!
Well, Schumpeter tells us, "The FDIC, and three financial-industry lobby groups we also approached, declined to comment."
I despair. Really, I do.
Might even rush out and buy a KickOut Bond.
Or Greek debt.
Finish up on a park bench under old PPI policies outside the FSA.