Sunday, November 23, 2008

Do you know the ABCs of the Credit Crisis?

There was a recent article in Forbes The Financial Crisis from A - Z by Tunku Varadarajan, November 10, 2008. (go to the link and site and search for the article).

I just came across the article which is very amusing it "explains"the credit crisis through the alphabet.

Here is a gem:

M is for where it all started: the mortgage (which, aptly, means death-pledge). Like the dog, it comes in a variety of breeds, "sub-prime" being a cross between a pit bull and a chihuahua. And let's not forget marking-to-market, a hyper-purist tool that contributed to the downward spiral; moral hazard (moral what?); Main Street (the rest of us dopes); and, my favorite, macroprudence (a sadly neglected word--and concept, come to that).

See what the article says about Chairman Cox, Greenspan and Fair Value Accounting - all the cast of characters. I know it has gone beyond a joking matter. But in times of stress we need to lighten up.

No comments: