First rule of leadership: know your subject
Published by Frank January 21st, 2008 in Uncategorized.Amusing story about a congresswoman trying to find out who to blame for the credit crunch. Shows that if you are trying to mount an attack you better know who you’re dealing with.
A congresswoman at a House of Representatives Budget Committee hearing was seeking to pin down which Wall Street firms were responsible for the securitisation of sub-prime mortgages.
She began: “Seeing as how you were the former CEO of Goldman Sachs …”
A bemused Bernanke interrupted: “No, no, no, you’re confusing me with the Treasury Secretary [Hank Paulson, the former Goldman Sachs bigwig] …”
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