April 26, 2008
Finanskrak og Marc Andreesen

Jeg må ved et uheld være kommet til at unsubscribe fra Marc Andreesens blog, eller også var det hans alting er svært og dyrt-approach til at starte nye ting, der gik mig på. Anyway, det er en fejl, for hans vitriol er af 1. sortering, som slutjoken her om nyligt krakkede Bear Stearns og det regeringssikrede bailout firmaet fik. Jeg citerer en ordentlig luns for at sætte vitsen ordentligt op.

The $29 billion taxpayer loan is almost certain to lose money as it is being used to backstop stinky assets on the Bear Stearns balance sheet -- the same assets whose plummeting fall in value catalyzed Bear Stearns' effective bankruptcy.

It is virtually certain that taxpayers are going to take some loss on that $29 billion loan.

When we do, we will have the immense satisfaction of knowing that the first $61.3 million of those losses represent a direct cash transfer from US taxpayers to Jimmy Cayne [Bear Stearns' direktør].

I wonder if there's any more color out there on this...

In the past weeks, together with his wife... who is a student of Jewish religious traditions, Mr. Cayne has spent considerable time searching for comparable events in religious history to see what lessons can be learned from the collapse of his firm, said a person who has spoken to him recently.
Oh yes, that episode where the money changers in the temple leveraged their business up 40-to-1 and then went bankrupt, but got bailed out by a loan from the Roman citizenry of 29 billion pieces of silver, comes immediately to mind.

Posted by Claus at April 26, 2008 09:17 AM | TrackBack (0)
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