Good times

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From: John
Subject: If this doesn’t scare the living shit out of you…
“What we are witnessing,” says Bill Gross of the bond manager Pimco, “is essentially the breakdown of our modern-day banking system, a complex of leveraged lending so hard to understand that Federal Reserve Chairman Ben Bernanke required a face-to-face refresher course from hedge fund managers in mid-August.”

‘Cause you know that those hedge fund managers are looking out for you and me.

Anything the average Hedge Fund Manager could say to enlighten Bernanke with is of zero benefit to guys like me. And, probably, zero benefit to 90% of the country as well.

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About big jonny

The man, the legend. The guy who started it all back in the Year of Our Lord Beer, 2000, with a couple of pages worth of idiotic ranting hardcoded on some random porn site that would host anything you uploaded, a book called HTML for Dummies (which was completely appropriate), a bad attitude (which hasn’t much changed), and a Dell desktop running Win95 with 64 mgs of ram and a six gig hard drive. Those were the days. Then he went to law school. Go figure. Flagstaff, Arizona, USA

One Reply to “Good times”

  1. Jonny, et al–

    It’s really a pretty simple,m age-old scam: make stupidly risky yet devilishly complex loans, then try to sell them down the river before anyone realizes they are worthless.