Now who said being nuts and being intelligent were mutually exclusive? Here's a fascinating vid of well-known Slovenian philosopher Slavoj Zizek giving his $0.05 worth on a bunch of different current global circumstances. Now clearly this guy's more than a bit of a raving lefty, but interesting nonetheless. Moreover, the structure of the 'interview' is pretty cool. Curious how such a pinko has praise for the benevolent dictatorship of Singapore and their particular flavour of capitalism. I'm sure that communism is largely retired to the trash heap (where it belongs), but the new wave of British 'Red Tories' might turn out to have some staying power as pointed out in this Prospect Magazine article [HT MGJ].
NB: I found the second 'story' of the girl and her family bank and how the market were tripping over themselves to buy the bank and the quality assets on its balance sheet particularly interesting - I'm working on a mandate for a new EU bank desperate to buy prime conforming mortgage books (not RMBS or CMBS). This market is unbelievably hot with every first and second tier credit institution falling over themselves to buy this stuff and shore up their balance sheets, or at worst, hold on to the stuff they've got already. Then you've got the lawyers trying to sell you advice on forward-flow and innovative origination structures. . . The days of these banks taking a haircut on selling prime assets are well and truly over - if you want to play, you pay par.
Youtube page for bigger, high-res viewing here.
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