Spotted this today - I think it's in the US but one of the "companies" they refer to is based in London: it seems companies are buying and selling discharged bankruptcy debt!!!!!
http://www.businessweek.com/magazine/content/07_46/b4058001.htm
this is off the wall. If this insanity can produce a “robust market” in discharged bankruptcy accounts, what bloody hope is there? Apart from the poor saps who find themselves unable to progress because organisations are demanding funds that have been legally excused, surely that “market” in this dead debt can only be worse than the current madness in the entire global financial market about badly labelled investment vehicles that looked like gold but had crap sub-prime mortgages sitting underneath!
A bigger picture proving the need for screwing down these insane bent suits I cannot think of!
The horribly irony is, it doesn't matter if you're a follower of the "neither a borrower or a lender be" and you lead a comfortable but non-40" LCD TV existence: ultimately this soaraway $$-pupil greed will see all of us royally shafted as the world economy goes down in debt flames and the same suits retreat to safe distance in Monaco, Switzerland etc and wait for the dust to settle before sharpening their steak knives and salivating again in 10 years time...
When will we learn? Kill the suits.
P.S. buy your strings from Strings Direct - they rule.
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