Buy it, strip it, flip it...

Hedgefond managers can rest assured. The G7/8 conference in Essen, Germany, has merely rocked their boats with a "new" financial buzzword: transparency.
As Germany has the presidency, not only of the EU but also of the G7/8, it has a bloody hard time achieving unanimity across the board, and yet a harder time taming the hedgefond sharks from the Anglo-Saxon business world, with their operational centres in London and the Big Apple and their offshore accounts on the Cayman Islands.
Although scepticism is propagating slowly but surely, the hedgefonds' glorified tactics seem pretty effective. They go to work during a currency's deflation, stabilising the exchange rate and with complicated financial structures alleviate banks of high-risk investments, allowing the latter to safely continue with handing out credits and loans to all Toms, Dicks, and Harrys. This supposedly drives consumerism and business and lowers unemployment. Yea, sure.
In the end hedgefonds are nothing but forms of immediate gratification (a symptom of the present era) or even ticking time-bombs that may still set off a catastrophic chain reaction (may I remind of LTCM in 1998?)
Transparency is just a necessary beginning...

4 comments:

Mary said...

Gabe,

Speaking of Germany:

What's your view on the Turk from Germany who is still languishing in Guantanamo?

Mary

Gabe said...

You mean Murat Kurnaz from Bremen? He's back in Germany now trying to get naturalized. I saw a long interview with him and he seems to have developed a speech impediment since his time in Guantanamo, probably due to their dubious interrogation methods. Poor guy...

Gabe said...

Btw, Mary I saw your lovely reference to my blog page here. I shall soon return the good gesture of friendship! ;-) Gabe

Mary said...

Gabe, I am certainly behind the times. I thought from all the upset in the German press recently that
Murat Kurnaz was still incarcerated.

A quick google, though, turned up this interview with him last September:

http://www.spiegel.de/international/0,1518,437087,00.html

I hope he does get naturalized. German law is very unfair in this, I think. Even though Murat Kurnaz was born in Germany, he isn't automatically a German citizen, because his parents were not German citizens.

As to your blog address:
I put it on one of my mailing lists, too.

But no one there thought that "The Premeditated Pizza" was as funny as I think it is.

Ah well, tastes differ, I reckon.

Mary