Yes, it discussed the Derivative Market.
I recognize that quote from Buffet. I think it was in the book as well.
As I am posting this, I reread your post. I want to make one thing clear. I believe JPM was in trouble. I was just trying to convey that the book played things as if JPM is the only reason things actually survived.
When I read "The Big Short", I found myself nodding and thinking "Yes, this is what happened."
When I read "Too Big To Fail", I found myself thinking, I don't disagree with any of these facts but DAMN, they are missing the story.
Yep - Blue Tarp - Do I sense a NASCAR fan?
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