Monday, December 8, 2008

An Explanation of the Financial Crisis

Got this from a forwarded email, if you know the original author please let me know so I can credit this story to him/her.

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Young Chuck bought a donkey from a farmer for $100.

The farmer agreed to deliver the donkey the next day. The next day he drove up and said, 'Sorry son, but I have some bad news, the donkey died.' Chuck replied, 'Well, then just give me my money back.' The farmer said, 'Can't do that. I went and spent it already.' Chuck said, 'Ok, then, just bring me the dead donkey.' The farmer asked, 'What ya gonna do with him? Chuck said, 'I'm going to raffle him off.' The farmer said "You can't raffle off a dead donkey!' Chuck said, 'Sure I can, watch me. I just won't tell anybody he's dead.'

A month later, the farmer met up with Chuck and asked, 'What happened with that dead donkey?' Chuck said, 'I raffled him off. I sold 500 tickets at two dollars a piece and made $998.' The farmer said, 'Didn't anyone complain?' Chuck said, 'Just the guy who won. So I gave him his two dollars back.'

Chuck now works as a consultant for Goldman Sachs, JP Morgan and the US Federal Reserve.

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When I first read this story in my mailbox, I was amused. Now, my feelings have changed from amusement and have turned to disappointment and a little bit of despair. This recession has been hard on a lot of people.

Now, I wonder, if I went to the California Inmate Locator website, would I find Chuck incarcerated ? I hope so. If he's in some other state, he should be in the Prison Inmate Locator site as this contains full Federal inmate records from a lot of other states too.

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