Dabblings & Diatribes
Without human beings, the universe has no meaning; without Christians, our communities have no meaning; and without Christ, Christians have no meaning. Hence, Christ is the meaning of the universe. The meaning of the universe lies in those Christians who have Christ operating in them.
The Meaning of Human Life and A Proper Consecration, p. 31
AS THOUSANDS have gathered in Lower Manhattan, passionately expressing their deep discontent with the status quo, we have taken note of these protests,” wrote Lloyd Blankfein, the boss of Goldman Sachs, in a recent letter to investors. “And we have asked ourselves this question: ‘How can we make money off them?’ The answer is the newly launched Goldman Sachs Global Rage Fund.” This will invest in firms likely to benefit from social unrest, such as window repairers and makers of police batons. As Mr Blankfein explained: “At Goldman, we recognise that the capitalist system as we know it is circling the drain—but there’s plenty of money to be made on the way down.
The letter is a spoof, penned by Andy Borowitz...You can find the full article here.
It’s “extremely risky to have a capital regime which says for certain types of assets you don’t need to put aside any capital..."It is very encouraging to see these important issues being addressed by international accounting standard setters. Perhaps next week we will learn whether there are any risks attached to derivatives and exchange-traded funds. Stay tuned...
