China’s $1.7 trillion hangover

China’s $1.7 trillion hangover

Up to 40% of China’s $1.7 trillion LGFV loans are at high risk of default. What’s a panicking Beijing to do?

EuromoneyFXNews.com

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June 2008

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Ripe bums emerge from sub-prime



Ablution done: Daniel Bouton

A loan intensely: Stanley O’Neal

A math gap pedlar: Adam Applegarth

Barren asset: Bear Stearns

He wins junk: Huw Jenkins

Market halving: Grant Kvalheim

Mere evil joker: Jerome Kerviel

Smear incomes: Osman Semerci

Zip itt or else: Eliot Spitzer

 
"There are no second acts in American lives," wrote F Scott Fitzgerald towards the end of his own monochrome career. He can’t have been talking about Wall Street: as anyone who has tracked the career of John Meriwether will know, third, fourth and fifth acts are perfectly possible. Perhaps more careers have taken a dramatic turn in the present crisis than was the case when the hedge fund LTCM failed; for those seeking an uplifting plot twist, a stage name might come in handy. Euromoney has noticed that merely shuffling the letters in the names of some victims of the credit crisis produces plausible pseudonyms, and respectfully presents the stars of tomorrow:

Enterprising readers might wish to suggest their own anagrams: Euromoney confesses to being stumped by Jonathan Chenevix-Trench, former COO of Morgan Stanley’s institutional securities business.


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