We’ve just had the 95th bank failure in America. That is bad for the financial system. Or is it? What is our financial system best at it?
Devising exotic, risky, unregulated financial derivatives. Brokers sell them. Analysts tout them. They all rake in big fees and commissions. Dirty, rotten scoundrels.
Let me join. I am anouncing the formation of The Lords Of Fun - Bank Failure Derivative. You are guaranteed 12% a year if bank failures in America go over 80. Under 80, you get 3.5%, still better than those stodgy Treasury bills. For the more optimistic, I am forming The Lords of Fun - Bank Stability Derivative. You are guaranteed 12% a year if the bank failures stay under 80 and 3.5% for over.
Please put your money in a brown paper bag under the tallest tree in Old Poway Park at precisely 12:05 pm. I shall invest it wisely. Nothing could be safer than gold mining in the Marianas Trench, right?
- Paul De Lancey, Ph.D. and First Lord of Fun
Please this financial wizard’s website at www.lordsoffun.com