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Friday, September 26, 2008

What Would Jesus Do? He'd Hedge by Going Short!

What Would Jesus Do? Apparently, he'd hedge... by going SHORT.

Short-selling’ church leaders accused of failing to practise what they preach: “The Church of England was accused last night of having used short-selling to maximize profit on a £5 billion investment hours after its archbishops criticised banking practices.

After the call from the archbishops of Canterbury and York for tighter regulation of the markets, the liberal think-tank Ekklesia said that the Church was implicated in stock market speculation. It said that in 2006 the Church Commissioners, which manages the Church of England’s investments, set up a currency hedging programme against a fall in the value of sterling, effectively short-selling the pound to guard against rises in other currencies. It also criticized the Church for its shareholdings in oil and mining companies.

On Wednesday the Archbishop of York, Dr John Sentamu, branded the traders who cashed in on falling share prices in the troubled bank HBOS as “bank robbers” and “asset strippers”.”

*** Nobody’s allowed to go postal on me in the comments. This is not a religious blog. This is just funny AND something to reflect upon. ***

12 comments:

Leo Kolivakis said...

Amen. :)

Leo

Low Cost Lisa said...

The cartoon? Not funny.

gio said...

see, it's a matter of taste. I think the cartoon is funny and relevant in our times of victimization and pseudo-martyrdom.

Anonymous said...

You know what? Deflation ain't so bad if you are a private bank that can socialize the costs. Think about it. The things you produce become valuable in a deflation and you can pick up aSSets for pennies on the dollar...

The fiat product is like gold when deflation hits. The people who inadvertantly cause it benefit from it in a weird, suboptimal way. We all prefer inflation in the ownership society, but it sometimes don't last. Only "THE MAN" and the correct speculator (i.e. "investor") get it right, hopefully every time.

Good luck...

Anonymous said...

Haha... Jesus is useless. :P

Tibby said...

Jesus is dead, but what would Paulson do?

Eurobear said...

Paulson is trying to become Jesus, $700BN buys you anything these days....I am the savior, now give me your money

Anton S. Kraievoy said...
This comment has been removed by the author.
Anton S. Kraievoy said...

...this remidns me of the proverb (or something alike):
Jesus saves, Buddha does incremental backups.

:)

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