Saturday, March 22, 2008
Irony
In 1961, my father believed that the United States was heading for a market crash and a depression. For the next 30 years, he had huge short positions that lost him a fortune. Until he died, he believed that the banks would go bust through risky investments especially investments in consumer debt. He died in Manhattan on September 17, 2001. At that time the markets had begun crashing in response to the attacks on the World Trade Center. Disabled by untreated diabetes and resentment, he died alone, unable to sell Bear Stearns short.
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