Sunday, July 12, 2009

Crow reminisces

Crow here.

Since I'm quite fed up with investigating Goldman Sachs and assorted other examples of greedy human sharks I thought I'd tell you the story of how I met susan. It's next door at Adventure's Ink if you're in the mood to be bored.

13 comments:

La Belette Rouge said...

Crow, nothing about you and/or Susan are boring. Your *cute meet* is certainly not boring.

susan said...

belette - Crow said to tell you he's glad such a discerning writer as yourself enjoyed it.

linda said...

BORED??? what?? are you crazy?? no don't answer that....of course I shall meander right over there as soon as I read the other post I missed...can't wait to dish the dirt....you did dish the dirt I hope!

kisses...

susan said...

linda - He'd like to dish more dirt - likes gravel with his fruit cake too. He's an odd bird.

Mary Ellen said...

I was prepared to be bored but I wasn't. I love your stories. ;-)

susan said...

nunly - Glad you enjoy them - rare as they are :-)

lindsaylobe said...

Loved your story - in relation to the article reference -
Whilst I agree regulators lacked the will to properly regulate markets I also think instruments such as Credit Default swaps should never have been allowed to be issued in the first place.

Although they represent an insurance type cover in practice they violate prudential insurance rules by allowing holders of discounted securities to profit (since cover is for the full face value) in the event of a default by the counterparty. In other words a security holder is much better off financially if the counterparty defaults. It’s akin to allowing life insurance policies to be taken out on anyone’s life – not a good idea

There already exists adequate form of trade credit insurance cover for defaulting institutions and Banks – primarily an insolvency type cover but with indemnity levels usually to a maximum of 90% so as to remain true to the maxim not to allow a profit from any insurance cover.

Best wishes

Seraphine said...

do unto others
as you would have them
do unto you.
otherwise screw them

(if you get a big enough bonus)

susan said...

lindsay - Yes, these are the kind of people who would insure their grandmothers then push them over a cliff.

sera - I blame the government. Oops! They are the government.

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