Friday, January 25, 2008

Meet the Bubble Boys

One of France’s main retail banks who’s big into markets looks like a smoldering dog-pile right now, while the rumor of a potential €28bn debt write-down is still floating out there for Soc Gen, and what do the hacks at worry about?

Davos, NGOs, self-service at Ikea, movie reviews, and their peevish notion that they’re “grooming” Barrack Obama. You will note that they ran the goofiest looking picture of his equally inexperienced opponent that they could. A trip through the way-back machine reminds one that this is how Pravda illustrated any prominent American while it dodged-and-burned the horrendously ugly Leonid Brezhnev into a noble-looking figure. They have since resorted to full time fevered lunacy.

Update: it only took them 36 hours, but they did finally mention SocGen about 24 hours after we and just about every smartass with a blog did. The hitch is that they just happen to mention Société Générale while engaging in anecdotal class-hatred whining about the fact that Nick Leeson is selling his book, and charges a fee for interviews. Strangely enough, those people who run Rue89 even sometimes get paid.

They put it under some loony society column type piece wondering why there aren’t any of the usual dial-a-mob protestors at Davos right now, and why the press is ignoring anti-globalization protestors. Hello! McFly! Here’s a hint: check the weather, and then try to see if they actually have anything to say.

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