Tuesday, December 25, 2007

Figuring out subprime for you

This is friggin’ cool. Watch this short, hilarious video that describes subprime mess in layman terms. I loved it. Especially the part where they explain the thought process that goes into naming hedge funds....

Anchor to George Parr (playing investment banker) : Ok. Let’s talk about moral hazards.
GP : Sorry, I understand hazard. What’s the other part?
Anchor : Ok. Never mind. I don’t want to sound insulting. But I think you haven’t learnt anything from this crisis.
GP : On the contrary, we’ve learnt a lot.
Anchor : And what’s that…?
GP : When you know you’re going to make a cock-up, make an enormous cock-up so that the Governments will come and bail you out.

Watch it live... It's a laugh riot.


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