The Twelve Days of Crisis
On
the first day of Crisis the markets sold to me
A sub-prime bankruptcy.
On
the second day of Crisis the markets sold to me
Two structured notes
and a sub-prime bankruptcy.
On
the third day of Crisis the markets sold to me
Three French funds
Two structured notes
and a sub-prime bankruptcy.
On
the fourth day of Crisis the markets sold to me
Foreclosure loans
Three French funds
Two structured notes
and a sub-prime bankruptcy.
On
the fifth day of Crisis the markets sold to me
$500 gold calls
Foreclosure loans
Three French funds
Two structured notes
and a sub-prime bankruptcy.
On
the sixth day of Crisis the markets sold to me
Six fleeced investors
$500 gold calls
Foreclosure loans
Three French funds
Two structured notes
and a sub-prime bankruptcy.
On
the seventh day of Crisis the markets sold to me
Seven ‘bonds’ accruing
Six fleeced investors
$500 gold calls
Foreclosure loans
Three French funds
Two structured notes
and a sub-prime bankruptcy.
On
the eighth day of Crisis the markets sold to me
Eight salesmen bilking
Seven ‘bonds’ accruing
Six fleeced investors
$500 gold calls
Foreclosure loans
Three French funds
Two structured notes
and a sub-prime bankruptcy.
On
the ninth day of Crisis the markets sold to me
LBO refinancing
Eight salesmen bilking
Seven ‘bonds’ accruing
Six fleeced investors
$500 gold calls
Foreclosure loans
Three French funds
Two structured notes
and a sub-prime bankruptcy.
On
the tenth day of Crisis the markets sold to me
Hedge fund Boards all leaving
LBO refinancing
Eight salesmen bilking
Seven ‘bonds’ accruing
Six fleeced investors
$500 gold calls
Foreclosure loans
Three French funds
Two structured notes
and a sub-prime bankruptcy.
On
the eleventh day of Crisis the markets sold to me
Over-hyped underwritings
Hedge fund Boards all leaving
LBO refinancing
Eight salesmen bilking
Seven ‘bonds’ accruing
Six fleeced investors
$500 gold calls
Foreclosure loans
Three French funds
Two structured notes
and a sub-prime bankruptcy.
On
the twelfth day of Crisis the markets sold to me
Central banks succumbing
Over-hyped underwritings
Hedge fund Boards all leaving
LBO refinancing
Eight salesmen bilking
Seven ‘bonds’ accruing
Six fleeced investors
$500 gold calls
Foreclosure loans
Three French funds
Two structured notes
and a sub-prime bankruptcy.
..all of which does omit,
of course, “hysterical overblown relief rallies by equities”; “a craven
capitulation on the part of monetary authorities to Wall Street’s narrower
interests”; “disconcerting weakness at the long end of bond markets”; “rising
inflationary pressure”; “the dangerous vulnerability of retailers to deteriorating
consumer spending”; “flimsy fiat currencies”; “a scary succession of
non-American national property markets waiting to soften, including but not
necessarily limited to Australia, Belgium, Britain, Denmark, France, Ireland,
Italy, Spain and Sweden”; and “defensive investing becoming paramount” – but
then none of these coinages is particularly susceptible to rhyme.
Wow! What a run! Nice pick-up on "12 days."
Posted by: D. Wayne | October 16, 2007 at 01:27 AM
This report presented as a
rhyme nicely summarizes the financial meltdown.Thanks for this chain of data and I hope these figures are reliable.
Posted by: axa verzekering | March 03, 2009 at 03:12 AM