25-11-2008, 09:25 PM
David Guyatt Wrote:Paul, I was taken with your idea and am now working hard to found the Deep Politics Forum Bank of the Bahamas. Deposits from tax-payers and drug barons - and "Merchants of Death" are both welcome and sought.
Once we have our first 10 mil we'll leverage at the same ratio that Long Term Capital Management did by using the 10 mil to "borrow" US Treasury Bonds (okay, strictly speaking its absolutely illegal to do this but who's looking, right). Then we deposit the bonds as collateral against a leveraged loan. Now we have 100 mil. Good huh!
Outstanding. I knew you had it in you...
David Guyatt Wrote:Okay, so now we take the 100 mil and yup, we repeat the procedure with other banks -- and keep doing so time after time. Our first major hurdle is one billion. After that it's all plain sailing.
No yachts. They attract all the wrong kind. Shifty political types, that sort of riff-raff. We should only buy parties, not individual pols.
David Guyatt Wrote:Just before our house of cards collapses, we pull the plug and run with the money - laying it offshore in secret accounts. We then demand the US government rescue us and sit back sipping vintage cognac waiting for the handout that also will go into offshore secret bank accounts.
What a mind, what an attractive scenario.
David Guyatt Wrote:If you're happy with this idea, I'd like to ask you to become the bank president (we need a front man you see). Adequate compensation can be discussed at a later date.
As long as I get to found a reasonably-sized religion - some kind of fertility cult on an obscure Indonesian island, that sort of thing - I accept with alacrity, and a large, open wallet, you're most generous offer.
Now, when do we get down to fleecing a tax-payer or million?