Sunday, May 10, 2009

Chapter 2 & Chapter 3, World's financial mess, as explained by Phua Chu Kang


I just hate it to swim during weekends....why? cause there are like dammm alot of ppl la!!! 

anyway go on to read Chapter 2 & Chapter 3 =)

Chapter Two: Investment Banks Also Want

After collecting his huge bonus, the CEOs of the commercial banks also need to do more creative works or else they will be fired soon.

So, he went to see the bigger brother - Investment Bank!

For those of you who don't know, the Investment Bank in US is damn power wan !

Their name also damn solid like Morgan Stanley, Lehman brothers, Goldman Sachs.

The commercial bank CEOs objective is very simple, they want the Investment Bank to share share and join with them to play the game of Subprime Loan!

Even though the Investment Bank name power, their top management are also same like us eat full nothing to do one.

So, they get all those economists, professors, even Nobel prize winners and together go to starbucks drink coffee and blow water.

After many rounds of talking cock, they concluded that these subprime loan is very risky but very exciting and profitable!

Something like bank robbery!

As a greedy bunch of motherf*ckers working for greedy Investment Banks, they decided not to miss this great opportunity so, the Investment Banks are in !

Chapter Three: How The Investment Banks Play

Since Investment Banks are so power and big! They also decided to play it BIG!

So, in order for them to raise all the fund to lend it out to those pokkai house owner, they issued something call CDO (Collateralized Debt Obligation).

In line with the reputation of Investment Banks, the name CDO also power meaning no one understand!

But Lin Peh tell you la, these CDO is actually something like Investment Banks borrow money from the some sorhais but the loan is guaranteed by those pokkai house owner's loan and their f*cked up "very expensive" house.

So, where to find such sorhai ?


you want more right?

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