Treasury

"Tisch was disciplined in his approach to interest rates and the economy: these were investment variables he could analyze and adjust to. In the beginning of 1994, for example, when the Dow Jones Indus- trial Average was flirting with the 4000 level, Tisch was selling stocks and bonds and moving money into cash equivalents—short-term Treasury debt."

"In a talk in Reykjavik in October 2011, the chief economist at Citigroup, Willem H. Buiter, likened the talent pool in Iceland to that which could be found in a mid-sized city such as Coventry in England. The nation couldn’t therefore logically expect to provide good people for the Treasury, the Central Bank, the FSA, the courts, the parliament, the Foreign Office or the business sector. Buiter told his stunned audience that he had never witnessed such collective stupidity in any developed country as was so dominant in Iceland during the last fifteen years before the crash of 2008. Strong words indeed, but he had a good point."