An old article (late Sept.) on the housing/credit crisis, but one that uses my favorite metaphorical maxim, the blind eye. (I’ve got a Google alert set for “blind eye” so I can track interesting uses of this phrase. This one, however, just popped up on the sidebar of an article in today’s NYTimes).

“Behind Insurer’s Crisis, A Blind Eye to Web of Risk”

It starts with a mind-blowing quote from the former executive at A.I.G. in August 2007:

“It is hard for us, without being flippant, to even see a scenario within any kind of realm of reason that would see us losing one dollar in any of those transactions.”

(a la Amy Poehler and Seth Meyers on SNL Weekend Update): Really?!

On second thought, with the tax-payer-footed bailout, perhaps he’s right after all.