Cutting Off The Big Swinging Dicks
Goldman Sachs has been gutted by the extraordinary loss of face in having to axe thousand of jobs, and the hedge funds will be following suit; Bloomberg reports that in a conference in London today, Dr Doom, otherwise known as Nouriel Roubini, has forecast that the fall-out of hedge funds having to dump assets will be so big that governments will be forced to close down financial markets for a week or more to override total systemic panic.
Let’s just take a moment to remind ourselves that the people who have dominated the financial markets for decades prided themselves on being Big Swinging Dicks, and, as we all know, pride usually comes before a fall.
Unfortunately for the rest of us, the fall is looking more and more like an mass extinction event, and less and less like a Darwinian evolution of a new financial system….
- Chenier
Posted: 23rd, October 2008 | In: Money, Twitterings Comments (4) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink
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October 24th, 2008 at 12:03 am
Though they may not be so keen if they discover that their reward may be to be sacked themselves…
October 23rd, 2008 at 11:33 pm
Will there be stringent controls after this……. I think not. Unbelievably, the Board
of Northern Rock are talking of p;aying out Bonuses because the Staff have worked so
hard to repay the Government Loan.
October 23rd, 2008 at 11:27 pm
I’m with you on that one, Val.
The strange thing is that it’s almost as if a lot of the reporters who have written about the whole horrible mess still can’t bring themselves to believe that it could all go so catastrophically wrong; they really did believe in the whole rocket scientist/big swinging dick myth…
October 23rd, 2008 at 11:18 pm
I”d say Dickheads was a better description!!!!!!!!! You have to blame the Regulators
for not Regulating, and as, usual, it”s the Taxpayer and Joe Public who will suffer
most. Shame on these greedy b*****ds, they ought to be hung, drawn and quartered.