Wednesday, September 24, 2008
SHIT happens in America.
Euphemisms and acronyms.Wall St. and The City seems to be full of them.Years ago Morgan Stanley used have a product called 'OPALS'.Short for Optimized Asset Linked Securities.I can't remember if it was any good.Sure it was popular with clients.I'm assuming in reality it was a crummy product.After all excellent products aren't exactly at the top of an investment bank's list of must haves when you're trying to rip off,l mean ''service'' clients.
The new Resolution Trust Style bailout entity is described as 'TARP'.Troubled Asset Relief Programme.Surely it should be called Securitized Holdings Intervention Trust or 'SHIT'.Because if the Hank and Ben show get away with it the US will be in real 'SHIT'.
RB
The new Resolution Trust Style bailout entity is described as 'TARP'.Troubled Asset Relief Programme.Surely it should be called Securitized Holdings Intervention Trust or 'SHIT'.Because if the Hank and Ben show get away with it the US will be in real 'SHIT'.
RB
