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Hip To Be Square 15000+ posts
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OP
Hip To Be Square 15000+ posts
Joined: Oct 2001
Posts: 47,810 Likes: 2 |
http://new.uk.music.yahoo.com/blogs/guestlist/14935/did-david-bowie-cause-the-credit-crunchDid David Bowie Cause the Credit Crunch?
Posted Tue 13 Jan 2009 12:17PM GMT by Mitch Carter in The Guestlist
He's one of Britain's most influential artists but now David Bowie stands accused of starting one of the nation's latest trends: The credit crunch.
As implausible as it seems, the Daily Mirror has today accused the pop legend of inspiring ‘securitisation', one of the key factors behind today's economic fallout.
Back in 1997 Bowie came up with the idea of selling his projected royalties income in the form of ‘Bowie Bonds'.
In other words, Bowie realised he would have a steady stream of money coming in from the sale of his music but rather than wait for it to accrue, he sold the rights to the future earnings so he could withdraw a large cash sum there and then. This became known as ‘securitisation'.
Towards the end of the 1990s, the banks began to adopt a similar model but on a much much larger scale.
But instead of selling royalties in the case of Bowie, they began to sell on mortgages that they had leant to their customers.
The premise was that the buyer of the loans would have a guaranteed income from the interest on the repayments and the banks would take an upfront cash sum in return.
Banks were lending out huge bundles of loans in the guise of contracts, giving the buyer the rights to the future repayments on those loans.
The problems began when loans were given to people who were then unable to pay them back. This caused many of these contracts to be rendered worthless and a lot of this bad debt had to be written off, causing the financial system to lose billions of pounds.
Did Bowie cause the credit crunch? No. But inadvertently he foresaw it.
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Officially "too old for this shit" 15000+ posts
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Officially "too old for this shit" 15000+ posts
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The "Venture Brothers" were right!
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devil-lovin' Bat-Man 15000+ posts
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devil-lovin' Bat-Man 15000+ posts
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My Bowie obsession is tearing the world apart!
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Joined: Nov 2000
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[insert non-dated reference here] 10000+ posts
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[insert non-dated reference here] 10000+ posts
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David Bowie is the greatest villain this world has ever known.
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Joined: Dec 2002
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fudge 4000+ posts
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fudge 4000+ posts
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 Racks be to MisterJLA
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Joined: Nov 2000
Posts: 13,392
[insert non-dated reference here] 10000+ posts
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[insert non-dated reference here] 10000+ posts
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If you read all the lyrics of all of his songs, you will gain a greater insight into the way this criminal mastermind operates.
And my time was running wild
A million dead-end streets
Every time I thought I'd got it made
It seems the taste was not so sweet
So I turned myself to face me
But I've never caught a glimpse
Of how the others must see the faker
I'm much too fast to take that test
See? He even admits that he is a complete fraud, a faker, and says he's surprised that no one has ever noticed that before. I fear we've only scratched the surface of David Bowie's villainy.
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Oh baby just you shut your mouth few posts
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Oh baby just you shut your mouth few posts
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Joined: Nov 2000
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[insert non-dated reference here] 10000+ posts
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[insert non-dated reference here] 10000+ posts
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Oh fuck! His Red Chinese agents are here! Everybody hide!
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Joined: May 2003
Posts: 10,793 Likes: 3
Doog the MIGHTY 10000+ posts
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Doog the MIGHTY 10000+ posts
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quick! to Robs blog! Nobody goes in there so we should be okay!
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Joined: Feb 2007
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Funny eyes 100+ posts
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Funny eyes 100+ posts
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My dear children, you need not fear me.
I have more than enough penis for you all.
Well, maybe not Peon Snarf.
Lets dance!
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Joined: Dec 2002
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fudge 4000+ posts
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fudge 4000+ posts
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quick! to Robs blog! Nobody goes in there so we should be okay! NOTHING is worth that kind of pain and gayness!
Racks be to MisterJLA
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Joined: Nov 2000
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[insert non-dated reference here] 10000+ posts
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I apologize to everyone and especially to Lord David Bowie for my unfounded accusations of villainy. I was completely wrong, and I hereby retract all statements to the contrary.
Lord David Bowie, you truly are a great man. I only hope I can someday reach even a 10th of your greatness. Until then, I will hang my head in shame for ever having doubted you.
-TTT, Lord David Bowie's #1 Fan
Edited by Lord David Bowie (01/14/09 07:31 AM)
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Funny eyes 100+ posts
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Funny eyes 100+ posts
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And let that be a lesson to you all.
My children need not fear me.
Lets dance!
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fudge 4000+ posts
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fudge 4000+ posts
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Lord David Bowie? Isn't that the guy from that labyrinth?
Racks be to MisterJLA
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Inglourious Basterd!!! 15000+ posts
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Inglourious Basterd!!! 15000+ posts
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He's The Sovereign of the Guild of Calamitous Intent. Don't fuck with Bowie!
Uschi said:I won't rape you, I'll just fuck you 'till it hurts and then not stop and you'll cry. MisterJLA: RACKS so hard, he called Jim Rome "Chris Everett." In Him, all porn is possible. He is far above mentions in so-called "blogs." RACK him, lest ye be lost! "I can't even brush my teeth without gagging!" - Tommy Tantillo: Wank & Cry, heckpuppy, and general laughingstock ![[Linked Image from i6.photobucket.com]](http://i6.photobucket.com/albums/y203/JoeMama13/RedSoxBanner05.png)
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Son of Anarchist 15000+ posts
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Son of Anarchist 15000+ posts
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What if Bowie chose to fuck you?
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Timelord. Drunkard. 15000+ posts
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Timelord. Drunkard. 15000+ posts
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whomod said: I generally don't like it when people decide to play by the rules against people who don't play by the rules. It tends to put you immediately at a disadvantage and IMO is a sign of true weakness. This is true both in politics and on the internet." Our Friendly Neighborhood Ray-man said: "no, the doctor's right. besides, he has seniority."
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Educator to comprehension impaired (JLA, that is you) 50000+ posts
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Educator to comprehension impaired (JLA, that is you) 50000+ posts
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