Saturday, September 22, 2007

Safe as houses

Any chance the Bank of England can loan me £1 million (at five points above EURIBOR) to bet on Chelsea winning the treble (in my book a high risk gamble now Jose has gone ... whoops, sorry ... a high quality investment portfolio).

I'll even give the betting slip as security, so if I don't repay the loan then the bank can keep the slip (whoops, sorry ... investment portfolio).

Of course, I'll be the one taking the real risks as I would stand to lose a £100 million+ in bonus if Chelsea don't win (calculated from the cumulative odds of winning each competition).

The BoE would only lose £1 million - a trifle in comparison - but at least they would keep the portfolio.

Its a shame that good old market economics are dandy as long as things are going up, but when it's on the way down the banks want to be bailed out by good old state intervention.

As for the demands for Mervyn's head ... well it is almost laughable ... he's not the one who has been gambling with other peoples' money.

Still, the buck for this seems to be heading firmly and unfairly in his direction.

I think that's trebles all round in the world of finance ... talking of which, how is my loan going?

Post a Comment