Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms.
Nassim Nicholas TalebThe twentieth century was the bankruptcy of the social utopia; the twenty-first will be that of the technological one.
Nassim Nicholas TalebThe government-sponsored institution Fannie Mae, when I look at its risks, seems to be sitting on a barrel of dynamite, vulnerable to the slightest hiccup. But not to worry: their large staff of scientists deemed these events "unlikely."
Nassim Nicholas Taleb