More metaphors to add to the scary metaphor list.
When someone says they got soaked, or hosed, or “took a bath” we know exactly what they mean. So I was really impressed/amused to see the numbers guys come up with an even better way of describing the financial crisis.
Warren Buffet: “Unfortunately, the economy, it’s a little like a bathtub .. You can’t have cold water in the front and hot water in the back.” (quoted in The Wall Street Journal last month)
Ben Bernanke: “Well, there’s a hole in our boat. We need to fix it and then we need to figure out how to make sure it doesn’t happen again.”
No wonder so many mortgages are”underwater.”