Tuesday, Aug 17, 2010
I'd forgotten about this! Haven't listened to the program yet, but it does a sound little familiar...
BBC Radio 4: History of the UK 90's Ostrich farming bubble...
In the mid 1990s investment companies sprung up offering huge returns on ostrich farming. The promise was that you could get 70 per cent or more and never get your feet muddy, or even have to see your ostriches. The birds would lay and endless supply of valuable eggs and the companies offered to buy them back.
Ostrich fever took hold, and birds changed hands at 10 times their true market value. It seemed too good to be true - and it was. The Department of Trade moved in and closed down the companies on the grounds that that they were running pyramid schemes.
In this programme, Jolyon Jenkins tries to discover why so many apparently intelligent people fell for the ostrich scams.
Posted by roy @ 10:22 PM (195 views) Add Comment
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