narco Posted March 23, 2008 Share Posted March 23, 2008 Fed's rescue halted a derivatives Chernobyl http://www.telegraph.co.uk/money/main.jhtm...23/ccfed123.xml Quote Link to comment Share on other sites More sharing options...
Sofa Spud Posted March 23, 2008 Share Posted March 23, 2008 The similarities with the Chernobyl metaphor are even greater. The desperate and brave efforts of the nuclear workers, who risked or even sacrificed their lives, saved the former USSR and possibly Europe from a much greater disaster if the melted down reactor had burned through the concrete floor and dropped into the large amount of water that had accumulated in a chamber beneath. Quote Link to comment Share on other sites More sharing options...
MarkG Posted March 23, 2008 Share Posted March 23, 2008 The similarities with the Chernobyl metaphor are even greater. I'm not sure that handing out billions of dollars of other people's money is quite comparable to dying of radiation to save your neighbours. Quote Link to comment Share on other sites More sharing options...
Sofa Spud Posted March 23, 2008 Share Posted March 23, 2008 (edited) I'm not sure that handing out billions of dollars of other people's money is quite comparable to dying of radiation to save your neighbours. Agreed, but I meant the similarity of the metaphors, I wasn't comparing the actual human suffering involved. I was referring to the fact that Chernobyl, like the banking crisis, could have been much worse without intervention. Edited March 23, 2008 by Sofa Spud Quote Link to comment Share on other sites More sharing options...
VedantaTrader Posted March 23, 2008 Share Posted March 23, 2008 Agreed, but I meant the similarity of the metaphors, I wasn't comparing the actual human suffering involved. I was referring to the fact that Chernobyl, like the banking crisis, could have been much worse without intervention. The derivatives time bomb will go off in another 3-6 months. This is not the end of it. Quote Link to comment Share on other sites More sharing options...
gfromls Posted March 24, 2008 Share Posted March 24, 2008 "Yet the hottest document flying around the City last week was a paper by Barclays Capital probing what might happen in a counterparty default". "It is not for bedtime reading". is this it? https://ecommerce.barcap.com/research/user/...%20Feb%2008.pdf Quote Link to comment Share on other sites More sharing options...
numpty Posted March 24, 2008 Share Posted March 24, 2008 I'm not sure that handing out billions of dollars of other people's money is quite comparable to dying of radiation to save your neighbours. Beautifully put! Quote Link to comment Share on other sites More sharing options...
okaycuckoo Posted March 24, 2008 Share Posted March 24, 2008 "Yet the hottest document flying around the City last week was a paper by Barclays Capital probing what might happen in a counterparty default"."It is not for bedtime reading". is this it? https://ecommerce.barcap.com/research/user/...%20Feb%2008.pdf Must be - the bold Ambrose seems to have lifted a lot of his terminology and conclusions from the final section. Quote Link to comment Share on other sites More sharing options...
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