Which celebrity caused the credit crunch?

Yahoo asks, "did David Bowie cause the credit crunch?" by suggesting that banks took the idea of securitisation – bundling rights to payment and selling them on – from him, after his Bowie bonds in 1997

As my regular reader will know the answer is "no", given that Steven Schwarz was writing about asset securitisation and its alchemy, at least 3 years before that.

However, it does beg a question – which celebrity is responsible for the economic armageddon.  The contenders are Reg Varney (first man to encourage easy access to finance through his pioneering use of the ATM) or David Bowie (the man who popularised securitisation)?  Or Bono – for services to hats?

you decide



About loveandgarbage

I watch the telly and read when not doing law stuff and plugging my decade and a half old unwatched Edinburgh fringe show.
This entry was posted in credit crunch, Uncategorized. Bookmark the permalink.

3 Responses to Which celebrity caused the credit crunch?

  1. burkesworks says:

    Follows on nicely from my post this morning! I ‘ate you, Butler!

  2. shaz_rte says:

    Bound to be Bongo!

  3. Anonymous says:

    It seems I can’t cast my vote for Bono for some reason but I think it’s clear that he and Reg had conspired together.

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