"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "


Chinese premier Wen Jiabao 12th March 2009


""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."


Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Wednesday, October 29, 2008

Hedge funds get trimmed on Frankfurt Bourse

Short sellers got caught short on VW stock which reached €1,005.01,yesterday valuing the company at €296 billion or US$370.4 billion, closing slughtly lower at €945 - this morning shares fell to €528.09 ... Hedge funds are said to have lost €20 billion (£15.9 billion) and €30 billion covering their positions.


What's that handy German word to describe the euphoria at enjoying the losses and misfortunes of others ? ...schadenfruede

Technical details of how Porsche pulled off the Stuttgart sting.

at 10/29/2008 11:01:00 am

2 comments:

Anonymous said...

"If a private enterprise is a failure, it is closed down - unless it can get a government subsidy to keep it going; if a government enterprise is a failure, it is expanded. I challenge you to find exceptions."...

"Milton Friedman, Why Government is the Problem, Wriston Lecture (1991)"

7:07 pm
ziz said...

"if a government enterprise is a failure, it is expanded. I challenge you to find exceptions."...

It also (invariably) get's re-nemed - usually with a spiffing new logo ...

9:56 am

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