freecounterpoint: The financial geniuses at Harvard

Thursday, February 26, 2009

The financial geniuses at Harvard

7 comments:

Tecumseh said...: Larry Sumners' swap bet. Betcha that was not the reason the pinko harridans ran him out of Harvard tar and feathered on a rail.; 2/26/2009 7:43 AM
Mr roT said...: Where's the "Seethe Tecs. Seethe!" Label?; 2/26/2009 12:45 PM
Mr roT said...: The university could have easily gotten out of the swaps after Summers left Harvard in 2006. But it did not. Near the end of 2008, Libor rates plummeted, forcing the university to post collateral.

About Larry, I think you misinterpreted (or did I?). Larry ran a nice little bookie joint out the back that was pulling down a few hundred mill a year and then he was ousted by the pinko bitches for being insufficiently insufferably pinko as they are.

So he left and the swap trick went tits-up with no one around to act quick and pull out. Right? Sounds like we have opposite time-lines.

If I am right, wow. Payback to pinko bitches is really a bitch.; 2/26/2009 12:50 PM
Tecumseh said...: That's about the gist of the story -- except for one thing: you assume that, had Larry stayed on at Harvard, he would have been smart enough to pull out of his little side deal just in the nick of time, before the rotating device got hit by you know what. What makes you think he's any brighter than the other financial geniuses at Harvard?; 2/26/2009 1:37 PM
Mr roT said...: I don't think he's smarter, but I do like the idea that the Corporation burnt billions on the altar of the goddesses of PC.; 2/26/2009 3:13 PM
Tecumseh said...: Hmmm... I sort of doubt that was the proximate cause. More likely, they just trusted their gazillions to some local Madoff, who made a hash of it (while raking in gazillions*x in the process). Not much smarter than responding to those Nigerian e-mails promising a 50% return. You fall for that, Mr Rot?; 2/26/2009 9:52 PM
Mr roT said...: You mean I am not getting a share of Nkumumba's millions?; 2/26/2009 10:49 PM

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