links for 2008-12-09

09 Dec
  • Most Lehman bankers saw little risk in borrowing against their stock to fund the lifestyle to which they were, on paper, entitled. “Say you have $8 million of Lehman stock,” suggests a senior investment adviser, using hypothetical numbers but a true-life case about a good friend who worked at Lehman. “You want to build a $2 million house. You pledge your stock and you borrow the money and you say to yourself, ‘Let’s say the worst happens: we have a terrible drop in the market. My $8 million will still be worth $4 million, and I’ve only borrowed half of that. So I’m being very conservative.’ But that doesn’t allow for $8 million down to zero.”
  • In related news, the yesteryears star (hahaha – see how resourceful we are – editor.) also planned to finally abandon her trademark white clothes, since she had heard that the Government had plans to 'ban the SIMI outfit'.
  • Rumour has it that RGV is also planning to 'randomly drop in' at several future events such as India's first manned space mission, the next AGM of the State Bank of India, and Pope Benedict's medical check-up. Strangely, he has said that he has no plans to attend screenings of any of his forthcoming films, since he doesn't like large, empty spaces.
  • When arriving in Rome for the first time, we made the mistake of taking a cab from the train station to our hotel. The driver charged us what seemed to be a huge amount. We argued with the driver outside the hotel, and when he appeared to get agitated we just gave in. We asked the hotel manager what the cab should have cost, and we did indeed get ripped off. The advice the manager gave us was that if you feel the driver is scamming you, politely say to him that the best way to resolve the dispute is to go into the hotel and ask them what the fare should be. Then do it! According to the manager, the cab driver will immediately admit he may have made a mistake.
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Posted by on December 9, 2008 in Links


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