Chapter Eight: No Light At The End Of Tunnel
Just like Old chinese proverb said "Everything You Ate You Have To Vomit Out".
The good time came to a stop by end of the year 2006 when the housing prices started to come down, people who bought houses found out there are no more buyers for the houses so they just defaulted on the loan and said F**K IT!
The Bank try to lelong out those houses but could not find buyer. Citibank, Bank of America all reported huge loses. So, the bank all said F**K IT!
Since Investment Banks has even bigger stake than the commercial banks in these loans, Morgan Stanley, Lehman Brothers all reported even bigger losses.
So, the Investment Banks also said F**K IT !
When the Hedge Fund saw all the other fellas all f*ck*d, they also cannot escape and Hedge Fund Stake is even bigger!
So, Hedge Fund said F**K IT !
And of course, all the AAA rating Unit Trusts F**K&D !
Now, Pension Fund F**K%D!
Education Fund F**K%D!
The share market F**K%D!
The Wh*le W*rld F**K%D!
Well that's all for Phua Chu Kang......
Wish me luck!
I NEED IT