Behind the Scenes at JRE
[Ed note: this has been floating around in my “draft posts” folder for about a week now. Think of it as a half-baked snapshot of a JRE post - the steak tartare of JRE posts. Mmm. Steak tartare.]
WORKING TITLE: Why Lehmans really went bust (doesn’t contain bad pun or pop culture reference; must fix)
Emergency cash destined for Lehman Brothers vaults goes astray, causes failure of Wall Street institution: http://www.wftv.com/news/17492850/detail.html
(something about evil short-selling hedge fund saboteurs seen running from the scene?)
In other news, German bank KfW accidentally sent three hundred million euros to Lehman Brothers, just hours before Lehman collapsed and took the three hundred million euros with it.
(compare to something: six billion gummi bears? TO DO: how much do gummi bears cost in euro-zone? possibilities for gummi bear arbitrage? do sour gummi bears trade at premium or discount? TO DO: find warehouse to store six billion gummi bears.)
(Ha ha ha ha:
Germany’s Finance Ministry said it is astonished…)
KfW will now be seeking a tax deduction, calling the 300 million “a charitable donation to a non-profit organisation”.