reach, grasp, taste RSS

the contents of a thing your aunt gave you which you don't know what it is

Archive

Mar
4th
Wed
permalink
Yet another hedge-fund manager explained Icelandic banking to me this way: You have a dog, and I have a cat. We agree that they are each worth a billion dollars. You sell me the dog for a billion, and I sell you the cat for a billion. Now we are no longer pet owners, but Icelandic banks, with a billion dollars in new assets. (via Wall Street on the Tundra | vanityfair.com)

Yet another hedge-fund manager explained Icelandic banking to me this way: You have a dog, and I have a cat. We agree that they are each worth a billion dollars. You sell me the dog for a billion, and I sell you the cat for a billion. Now we are no longer pet owners, but Icelandic banks, with a billion dollars in new assets. (via Wall Street on the Tundra | vanityfair.com)