1. This is what's referred to as 'taking the piss'.

(Excerpt from DJ Newswire 5th UPDATE: Paulson Urges Quick, Clean Rescue Legislation)

"Meanwhile, a key banking industry trade group called for key refinements to the Treasury rescue plan, such as temporarily suspending mark-to-market accounting rules for all mortgage-related assets."

2. Seriously, if you tie two stones together, will they float?

3. "We're not aware of any legal challenge." an FSA spokesperson said. 'Not aware'. Classic.

4. Have you noticed the uncanny coincidental (I think) timing of trans-Atlantic bans on short selling and the breakdown of the LHC? It's out for months too.

5. Maybe the EU could have Sir Mick draw up a solution to the financial crisis while he's at it. The man has economic training after all from his time at the LSE (which he described as "really a dull, boring course”). Given his subsequent history at least we'd be having more fun than Paulson's offering promises.

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1 comments

  1. Jim Donovan // 9/21/2008 09:55:00 PM

    I prefer:

    Tying two boat anchors together doesn’t make a life raft.

    For the benefit of the non-nautical amongst you, in this context a boat anchor is the heavy object on the seabed or lakebed to which a mooring buoy is attached. It’s usually a heavy concrete block, but can be any very heavy object. Hence when asking what you can still usefully do with expensive but obsolete equipment, you might be told ‘Well, it’d make a good boat anchor’. Seems appropriate!

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