independent and unofficial
Prince fan community
Welcome! Sign up or enter username and password to remember me
Forum jump
Forums > General Discussion > Is David Bowie to blame for the credit crunch?
« Previous topic  Next topic »
Page 2 of 2 <12
  New topic   Printable     (Log in to 'subscribe' to this topic)
Reply #30 posted 01/22/09 4:32am

AsylumUtopia

RodeoSchro said:

I think this is a GREAT thread! I was thinking about Bowie's deal the other day. As I recall, he got $55 million up front in return for signing over his royalties. I don't know if he would have done better collecting his royalties instead or not, but I thought his creativity was brilliant.

But look - *I* issued a mortgage-backed security in 1993, so don't give Bowie any of MY props!

(FYI - my security performed perfectly and met all projections!)

Beat me to it. smile I was about to say (so I'll say it anyway) :

The slight flaw in the argument is that David Bowie did not invent securitisation. In 1997 there were already quite a few tranches of securitised mortgages on the London stock exchange. He probably is still responsible for the credit crunch, but not for this reason.
Lemmy, Bowie, Prince, Leonard. RIP.
  - E-mail - orgNote - Report post to moderator
Page 2 of 2 <12
  New topic   Printable     (Log in to 'subscribe' to this topic)
« Previous topic  Next topic »
Forums > General Discussion > Is David Bowie to blame for the credit crunch?