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 Post subject: Tickerforum posts
PostPosted: Sun Feb 15, 2009 9:02 pm 
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A couple of interesting posts I read on tickerforum.
http://www.tickerforum.org/cgi-ticker/a ... 267&page=2

Quote:
only last year, I got a call from a headhunter looking to fill a position at Anglo Irish Bank, doing mezz real estate loans. I was thinking, your gonna do mezz at the ****ing peak of the market? I believe Anglo Irish got bailed out by big brother.


Quote:
Laswyguy - you're right Anglo Irish were nationalised last month.
I did a short stint there and their delusions of ever-rising property values were disturbing and sure to end in tears. Most humorous was when I worked with the head of treasury risk - a woman who had simply ended up the head of risk because she'd been there the longest. Stuck on a large post-it beside her monitor was a big lettered, hand-written note:
"Calls are an option to BUY.
Puts are an option to SELL"

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 Post subject: Re: Tickerforum posts
PostPosted: Sun Feb 15, 2009 9:23 pm 
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Posts: 1841
ixus wrote:
A couple of interesting posts I read on tickerforum.
http://www.tickerforum.org/cgi-ticker/a ... 267&page=2

Quote:
only last year, I got a call from a headhunter looking to fill a position at Anglo Irish Bank, doing mezz real estate loans. I was thinking, your gonna do mezz at the ****ing peak of the market? I believe Anglo Irish got bailed out by big brother.


Quote:
Laswyguy - you're right Anglo Irish were nationalised last month.
I did a short stint there and their delusions of ever-rising property values were disturbing and sure to end in tears. Most humorous was when I worked with the head of treasury risk - a woman who had simply ended up the head of risk because she'd been there the longest. Stuck on a large post-it beside her monitor was a big lettered, hand-written note:
"Calls are an option to BUY.
Puts are an option to SELL"

She subesequently went to work at the regulators....
Fukit, we are the laughing stocks of the world (but some think that this doesnt matter or is even counterproductive to consider; see http://www.irisheconomy.ie/?p=722 and comments on)


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 Post subject: Re: Tickerforum posts
PostPosted: Sun Feb 15, 2009 9:44 pm 
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Posts: 8008
ixus wrote:

Quote:
Laswyguy - you're right Anglo Irish were nationalised last month.
I did a short stint there and their delusions of ever-rising property values were disturbing and sure to end in tears. Most humorous was when I worked with the head of treasury risk - a woman who had simply ended up the head of risk because she'd been there the longest. Stuck on a large post-it beside her monitor was a big lettered, hand-written note:
"Calls are an option to BUY.
Puts are an option to SELL"


I have heard the same story as this guy and plenty more. Unfortunately I can't repeat them as it might affect my friend on the inside.


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 Post subject: Re: Tickerforum posts
PostPosted: Sun Feb 15, 2009 9:44 pm 
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ixus wrote:
Quote:
Laswyguy - you're right Anglo Irish were nationalised last month.
I did a short stint there and their delusions of ever-rising property values were disturbing and sure to end in tears. Most humorous was when I worked with the head of treasury risk - a woman who had simply ended up the head of risk because she'd been there the longest. Stuck on a large post-it beside her monitor was a big lettered, hand-written note:
"Calls are an option to BUY.
Puts are an option to SELL"


We need to outsource our regulators to the Chinese.

Quote:
Tougher tests for China finance professionals
Dec 18 2008 , Beijing By Keith Bradsher, International Herald Tribune
http://www.mydigitalfc.com/careers/toug ... ionals-709

Li Wuchen is 33 years old and has worked as a stock broker for three years, but he looked as nervous as a high school student facing a college entrance exam as he stood outside a university building on a recent Saturday morning and studied a government-issued manual one last time.
“This is my third time taking the test,” he said. “I must pass by the end of this year or lose my job.”
Chinese regulators have stepped up their policing of banks, ordered them to limit their counterparty risk in overseas derivatives transactions and reviewed trust companies to make sure that they are not taking inappropriate risks. But China’s most unusual response to international financial turmoil has been a government decision to increase rapidly the number of qualification tests required for workers in the financial sector.
The government has also broadened the number of people required to take these tests.
The improvements that China is starting to make in its financial regulatory system are likely to be tested heavily in the next few months. In the past few days, Chinese banking regulators have taken a series of steps to encourage banks to lend much more heavily, as part of a broader government effort to halt an economic slowdown that is unfolding with alarming speed.
>>>


and to compound it all

Quote:
Lack of qualified finance staff 'damaging economy'
By JOHN DRENNAN, Sunday January 25 2009
http://www.independent.ie/national-news ... 13951.html

Just one civil servant in over 600 staff at the Department of Finance has the top-level business qualification -- a PhD in economics.
As the department grapples with issues like the recapitalisation of the banks and a collapse in confidence in the regulatory system, it seems that the minister may be going into complex negotiations without the backing he needs.
>>>>

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