Perhaps he, like many of us, shared the sentimental view espoused on the back label of a million bottles that wine is a simple agricultural product, the fermented juice of grapes that is maybe aged for a time and then bottled.
The Fed also allows the big banks to use the devices that Enron used to keep its skullduggery from the public view Special Purpose Vehicles (SPVs) with a new label, Variable Interest Entities (VIEs).