How we cite our quotes: (Chapter.Paragraph)
Quote #10
"We turned off CNBC," said Danny Moses. "It became very frustrating that they weren't in touch with reality anymore. If something negative happened, they'd spin it positive." (7.16)
Even the media is hypocritical when it comes to the bond market. We don't think it's out-and-out corruption or anything, but simply that TV analysts, like bond traders, can't fathom how a market so successful could fall off a cliff so suddenly. Ultimately, this naivety creates a massive blind spot that makes a crisis like this inevitable.