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So what is a subprime then?

Written By: - Date published: 10:26 pm, July 19th, 2008 - 23 comments
Categories: humour, International - Tags:

The phrase “subprime” seems to have become part of our universal vocabulary – reflecting global uncertainty, events beyond our control, and financial complexities. A subject of great importance and seriousness – until I saw this clip from Bird and Fortune…perfect Sunday viewing.

23 comments on “So what is a subprime then?”

  1. Jeremy Eade 1

    brillant, that is comedy at its peak, tragic but real. laughter when you should be crying.

  2. Kevyn 2

    Ah yes I used to think government and democracy were subjects of great importance and seriousness too – until I saw Yes, Minister. It’s not really surprising that this is so reminiscent of scenes where Sir Humprhey educates Bernard on the finer points of “government.” Essentially, government’s and investment banks attratc the same sort of people who thrive in organisations where people are given huge sums of other people’s money to play with, complex organisational structures to hide within, and an alternative reality to live in.

  3. r0b 3

    If you liked this one you might also enjoy:

    Clarke and Dawe on the sub-prime crisis

    Ahh, Fred Dagg. Those were the days.

  4. Sorry,
    I posted this on my site like 6 months ago. You’re running behind.LOL
    Will you finally believe me?

  5. Quoth the Raven 5

    So that’s what John Key was doing when he was in London.

  6. randal 6

    sub prime is just an induced mania to take money off little people and bring order back to the market after a longer or shorter correction.

  7. Kevyn 7

    Ta rOb. Clarke Clark does a brilliant job of stripping away the veneer of difference between politicians and corporate spokespeople. Presumably they all use the same spindoctors.

    [lprent: Corrected name.]

  8. T-rex 8

    lol, he meant John Clarke, not Helen Clark 🙂

    One is hillariously funny and a brilliant satirist, the other is not so much.

    God I wish Clark would let Clarke write her speeches. That would be awesome.

  9. Phil 9

    “God I wish Clark would let Clarke write her speeches. That would be awesome.”

    90% of comedy is in the delivery, and I don’t think Helen Clark would know a good joke if it slapped her in the face.

  10. T-rex, Phil,Lew and Lucas,

    You really should watch this video a couple of times until you get it.

    The investment bankers and yes, John Key was the head of the European department for Bonds and Derivatives of Merrill Lynch selling this crap.
    The investment bankers were knowingly trading in the bundled mortgages not giving a flying fuck about who ended up with the junk bonds.

  11. Billy 11

    Jesus, Ev has discovered HTML. The key parts of each conspiracy are in bold, people.

  12. T-rex 12

    Ev, being right about one example of widely accepted and understood deplorable behaviour does NOTHING to improve your credibility.

    This is you:

    One plus one equals two, therefore clearly my cat can count.

  13. Yeah T-rex,

    One plus one equals two, therefore clearly my cat can count.

    That may be so but I give information that supports my thesis that my cat can count with links that allow people to make up their own mind.

    All you do is give half arsed unsubstantiated semi scientific crap I just have to accept because you say it’s so and if I disagree with you the bullying starts.

    About my blog, I give people all the information I can give them in a days work and also all of it is backed up with links to articles so again people can make up their own mind.

    I you don’t like what I’m writing than perhaps you should not comment. Perhaps I will just fade away. Lol.
    But then again you might need to protect you comfort zone and you can’t with me giving links to information that clearly unsettles you.

  14. lukas 14

    there is a reason they call them conspiracies isn’t there? now if I could only remember what that reason was…

  15. Lew 15

    Ev: Kindly leave me out of your rantings. I haven’t even been reading this thread, let alone challenging your weltanschauung with my white patriarchal capitalist pig bully-tactics.

    L

  16. Lucas,

    I think you are looking for the word Theories rather than the word Conspiracies.

    A Conspiracy is when a couple of people actually sit in a little or big room as the case may be and “conspire” to achieve their ends. It is also known as back room politics.

    You know when John Key sits in a room with Textor and Crosby to come up with the best secret strategy to fuck over the Kiwi population without telling them in advance. Now that is a solid conspiracy right there.
    No theory but whammo, an in your face secretive little ploy. Opposite to what most people think Conspiracies are perpetrated often and with gusto. Peters needs money but can’t be seen accepting it from the people who want to give it to him. he let’s settle this out of sight and in secret. Hey presto, another real world Conspiracy. And here is another one; Cheney met with a Big oil Task force in the months leading up to 911. Maps of Iraq, Iran and the Stans were opened. All in secret and only discovered in 2005.

    Whaddaya think, Secret meetings, talking about the oil producing countries and voila 911 happened and the big oil companies thrown out of Iraq by Saddam Hussein are once again piggies at the trough.
    What you reckon, could there be a teensy weensy Conspiracy have been plotted?
    Even if you believe that the official CT is true you must give them an uncanny ability to put that horrible event to good use.

    See, Conspiracies al over the place they are really very common.

    Ever plotted a surprise party for a loved one? Ooh oops, that makes you a conspirator right there. Ever played a joke on a friend with some friends that went a teensy bit over the top or a stag night that embarrassed the groom to be. I’m sure they felt conspired against.

    Theories and more precise a “Conspiracy” theory is a different cattle of fish. A conspiracy theory is a myth someone comes up with and we are supposed to believe in even if it flies in the face of logic, reason and science. Like the official one; 19 young fanatic Arab men send over by a madman in a cave manage to stand down NORAD for more then two and a half hours to slam three planes in buildings in the most protected airspaces in the world performing impossible (literally) manoeuvres while in reality they are incapable of actually being able to fly Boeing 747’s in something as simple as a straight line.

    And they could do it because all of the US military and the US Government are incompetent and that’s why all the top guys of that day all got promotions after the attacks of 911 and nobody got fired. That is the way leaders always deal with massive incompetence isn’t it.

    Catch my drift here Lucas?

    And to get back to this thread: These are the transcripts of the Bankers tapes. The Bankers tapes are telephone recordings of investment bankers from the Bankers trust, the bank John Key worked for at the time. These tapes were used in court cases against said Bankers trust. Proctor and Gamble asserted that they had been ripped of by the Bankers trust. They won the case and the Bankers Trust collapsed in 1995. John Key mentions it in the latest white wash piece in the NZ Herlald.

    In fact he is quoted as saying: I left when it all went to shit.

    Why did they win? They could proof that the Banker trust investment bankers conspired to rip of their costumers. Not only that they could proof that this was not a case of one bad apple. The bakers trust was rotten to the core. The bankers even had a code for how much they ripped of their costumers. The ROF (Rip of factor) was commonly used and understood by all. What was their speciality? The development of some very interesting new Financial products: Bonds and Derivatives. These products showed to be frauds and conspiracies to rip gullible idiots off even at that time.

    Just one last note: John Key was head hunted by Merrill Lynch. What positions did John Key take in the bank. Head of the European department for Bonds and derivatives and global head for foreign exchange.

    Nice man eh, our conspiring slippery “Smiling Assassin”.
    The even had a term

  17. lukas 17

    Did you actually believe your own rants? I reckon you are the lefts answer to d4j

  18. Old paradigm Sweety,

    Left/Right; so eighties. Check the links.
    Angry because I point out your smarty pants remark wasn’t so smarty pants after all?

  19. lukas 19

    thats the one… I am sitting in my office spewing that convinced me that you are not a conspiracy theory nut job

    left/right…you’re still in the same boat as d4j

  20. Oh, the little whipper snapper still smarty panting.

    Even if I’m still happily married after 21 years and have absolutely no problem with the opposite sex? That seems to be his angle. And of course no links ever, only the anger.
    Funny how I’m not angry at all. No I really don’t think I’m anywhere near being comparable tp d4j

    Captcha: $1 Complexity. LOL

  21. In fact Lucas,

    Meet some of my heroes.
    I’m sure you will agree with me that they are not what you might call lefties.

  22. Lukas 22

    trav…might want to learn how to work the link function…

    As for being like d4j… he goes on mindless rants and lists all sorts of tall tales…sound familiar?

  23. Here is the link again.

    No it doesn’t, should it?

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