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I am indebted to Paul Krugman for passing on this piece of black humour, now going the rounds in financial markets.
Unfortunately, these problems are getting closer to home. Carlyle, who have a number of private equity investments in chemical companies, defaulted on a $16.6bn bond fund today.
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» FT’s subprime jokes page from Chemicals & The Economy
Those who liked my earlier posting about Margin calling, might like to look at the new online Financial Times page devoted to subprime jokes. For example, 'What's the definition of an optimistic investment banker?' 'Someone who irons 5 business shirts... [Read More]
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