Comments on: Remembering Mahatma Ghandi With Bread

By: chenier

chenier — Thu, 02 Oct 2008 22:30:07 +0000

Thank you, Lone!

By: Lone Pigeon

Lone Pigeon — Thu, 02 Oct 2008 22:24:30 +0000

I most certainly am! You have a wonderful way with words.

By: chenier

chenier — Thu, 02 Oct 2008 22:18:15 +0000

Lone,

I really wouldn’t worry about it. Don’t forget the High End Girlfriend Index (HELGI) is probably a better indicator of just how bad things can get than LIBOR, or indeed, Libid(o); as the guy who invented it said:

“The last overhead to go is a really high-end girlfriend. If you’re a short, ugly 40-year-old guy and you’re throwing over a high-quality girlfriend, you’re desperate.”

You are in a far nicer place than that…

By: chenier

chenier — Thu, 02 Oct 2008 22:09:00 +0000

Saul,

Eonia and Sonia cerainly have their attractions, but not for me. My Libid(o) doesn’t work that way…

By: Lone Pigeon

Lone Pigeon — Thu, 02 Oct 2008 22:06:13 +0000

If only!

By: chenier

chenier — Thu, 02 Oct 2008 22:04:12 +0000

FSBF pigeon probably wrote it!

By: Lone Pigeon

Lone Pigeon — Thu, 02 Oct 2008 21:55:10 +0000

Chernier - that would take me about 5 and half years to read and understand that article

FSBF pigeon would know it already!

By: Saul

Saul — Thu, 02 Oct 2008 21:52:29 +0000

Eonia and Sonia sound like a couple of goer’s

By: chenier

chenier — Thu, 02 Oct 2008 21:45:18 +0000

Try Donald MacKenzie’s article on LIBOR in the London Review of Books last week:

http://www.lrb.co.uk/v30/n18/mack01_.html

I’d be interested to know why you think the bank’s models are inappropriate when it comes to answering the question of what they think their bank could borrow at from other banks…

By: Desperate Dan

Desperate Dan — Thu, 02 Oct 2008 21:33:19 +0000

Not only are their models not appropriate, but also they have no way of validating the information that they are given.

I am reminded of something that I was taught a very long time ago:

Statistics are something that you either look up or you make up.

By: chenier

chenier — Thu, 02 Oct 2008 21:18:54 +0000

It’s not the guys who do the calculations who have a problem; it’s the banks who give them the numbers who have the problems…

And, of course, all the people who have funding tied to LIBOR…

By: Desperate Dan

Desperate Dan — Thu, 02 Oct 2008 21:05:01 +0000

If the guys at the London Interbank Bid Rate really had an informed opinion of the current situation they wouldn’t have a libido problem either.

By: chenier

chenier — Thu, 02 Oct 2008 20:56:54 +0000

Which is more than can be said for your Libid(o)…

By: Desperate Dan

Desperate Dan — Thu, 02 Oct 2008 20:42:21 +0000

I’ll stay with Alan G.

Heavy on the US dollar, steady on the Swiss franc, light on the Euro, clear of the pound.

My current spread feels pretty good but my legs really ache…

By: chenier

chenier — Thu, 02 Oct 2008 20:35:55 +0000

Be fair, DD; at least he hasn’t cheerfully announced that, whilst

“We are living through the type of wrenching financial crisis that comes along only once in a century”

the economy will recover

“sooner rather than later”

Greenspan has.

It’s enough to make you hurl yourself into the jaws of the Large Hadron Collider…

By: Desperate Dan

Desperate Dan — Thu, 02 Oct 2008 20:33:10 +0000

Sorry, sounded OK but that should have been ECB not ESB .European Central Bank.

By: chenier

chenier — Thu, 02 Oct 2008 20:30:57 +0000

Boing, boing!

It reminds me of a bit in Mama Mia, which is also a cheerful thought…

By: Desperate Dan

Desperate Dan — Thu, 02 Oct 2008 20:30:05 +0000

chenier, you’re welcome. I’m back near the LHC and a drop of 27 degrees in temperature so I will let you know if my female friend from Zimbabwe approaches (euphemism).

Dollar/Euro looks increasingly good. Mr Trichet from the ESB seems to be screwing up as usual.

By: Saul

Saul — Thu, 02 Oct 2008 20:25:21 +0000

Ben Kingsleys school photo?

By: chenier

chenier — Thu, 02 Oct 2008 20:16:36 +0000

Thank you, Desperate Dan!

Having spent most of the day watching the economy implode an abominable pun is just what I needed…