If you are a vaccine company executive, it's time to slam the brakes

Pfizer's CEO Albert Bourla sees the dangers ahead, as his very carefully worded interview (worthy of close review) with CNBC yesterday shows.

Remember NINJA loans?

NINJA stood for “No income, no job/assets.” Back in the mid-aughts, when the banks and not the regulators were the ones going crazy and setting the financial system on fire with free money, they were all the rage.

I remember hearing ads for them in 2006 and 2007 and thinking, this has to be a bait and switch. You cannot walk into You…