Collateralized Debt Obligation explained by an Irishman:--
Lisa bought a donkey from a farmer for £100.
The farmer agreed to deliver the donkey the next day.
In the morning he drove up and said, 'Sorry son, but I have some bad news. The donkey's died.'
Lisa replied, 'Well just give me my money back then.'
The farmer said, 'Can't do that. I've already spent it.'
Lisa said, 'OK then, just bring me the dead donkey.'
The farmer asked, 'What are you going to do with him?'
Lisa said, 'I'm going to raffle (Lottery)him off.'
The farmer said, 'You can't raffle a dead donkey!'
Lisa said, 'Sure I can. Watch me. I just
won't tell anybody he's dead.'
A month later, the farmer met up with Lisa and asked, 'What happened with that dead donkey?'
Lisa said, 'I raffled him off. I sold 500 tickets at £2 each and made a profit of £898'
The farmer said, 'Didn't anyone complain?'
Lisa said, 'Just the guy who won. So I gave him his £2 back.'
Lisa now works for a big Investment Bank
Lisa bought a donkey from a farmer for £100.
The farmer agreed to deliver the donkey the next day.
In the morning he drove up and said, 'Sorry son, but I have some bad news. The donkey's died.'
Lisa replied, 'Well just give me my money back then.'
The farmer said, 'Can't do that. I've already spent it.'
Lisa said, 'OK then, just bring me the dead donkey.'
The farmer asked, 'What are you going to do with him?'
Lisa said, 'I'm going to raffle (Lottery)him off.'
The farmer said, 'You can't raffle a dead donkey!'
Lisa said, 'Sure I can. Watch me. I just
won't tell anybody he's dead.'
A month later, the farmer met up with Lisa and asked, 'What happened with that dead donkey?'
Lisa said, 'I raffled him off. I sold 500 tickets at £2 each and made a profit of £898'
The farmer said, 'Didn't anyone complain?'
Lisa said, 'Just the guy who won. So I gave him his £2 back.'
Lisa now works for a big Investment Bank
No comments:
Post a Comment