From Emanuel Derman’s Blog:
Trading Places
I had a fantasy in which the Fed and the TSA (Transportation Security Administration) switched roles.
If a bank failed at 9 a.m. one morning and shut its doors, the TSA would announce that all banks henceforth begin their business day at 10 a.m.
And, if a terrorist managed to get on board a plane between Stockholm and Washington, the Fed would increase the number of flights between the cities.
What a great way to point out the irony of the Fed’s response to bank failures, and the TSA’s response to terrorism attempts.
