“Yet another hedge fund manager explained Icelandic banking to me this way: you have a dog, and I have a cat. We agree that each is worth a billion dollars. You sell me the dog for a billion, and I sell you the cat for a billion. Now we are no longer pet owners but Icelandic banks, with a billion dollars in new assets.”
Quote by Michael Lewis
Author
Michael Lewis
Michael Lewis, born on October 15, 1960, is a renowned American author. His works are known for their in-depth investigations and revelations of the truths in the financial, business, and sports worlds. more