How Markets Work

11 10 2008

It’s been a dramatic day topping a dramatic week for world markets. Never before have global markets been in such a freefall.  In my dogged pursuit of understanding, I found this clip.  These gentlemen have provided one of the best and clearest explanations seen so far…

Of course, we know they’re just joking.  And it is a difficult subject.  Maybe I’ll have a better grasp of it if I could see a simplified explanation, in cartoon form, accompanied by some decent music …

Ok.  So now that I understand this a little better, it’s a bit easier to grasp how it would be time to celebrate if I worked for AIG, the mammoth insurer who just recently took an $85 billion bailout from the US.  I might even go out for a weekend at a fine hotel, with a spa.  That’s what some executives of the AIG Group did last week.  The tab?  $443,343.71 – but the spa charges only amounted to a little over $24 thousand.

Here is the economic bailout money at work:

St. Regis Invoice for AIG Exec's Spree Celebrating Govt Bailout

AIG Execs Celebrate Bailout




One response

4 11 2008
AIG Not Telling US Treasury How They Used Up 3/4 of $123 Billion in 2 Weeks « S c r i b a l T h r u m

[…] a broad category that raises eyebrows since the company has been tarnished by reports of expensive trips and bonuses for […]

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