Vultures and locusts eaten alive by Germans

[Gromit]

"Hedge Funds bet on VW shares falling because of the global economic downturn, regarded by some as "the safest play in town", Porsche had been secretly building up a 74.1 per cent stake in VW through intermediaries.
When Porsche showed its hand, it sent the VW share price rocketing and exposed the hedge funds to breathtaking losses.

"I have had hedge fund managers literally in tears on the phone," said one London-based analyst yesterday. Others likened the Porsche disclosure to a "nuclear bomb going off in our faces", describing the resulting losses as "a bloodbath".

For many impartial observers, the biggest single loss in the history of hedge funds will be nothing less than just desserts for the "vulture capitalists" who were blamed, for helping bring about the demise of HBOS through their controversial practice of short selling."

Hedge Funds have just made their biggest single loss, �24billion by trying to short sell Volkswagen shares. They gambled, got it wrong and lost heavily.

Is this proof there is a God?

[Gromit]

http://www.telegraph.co.uk/finance/newsbysecto r/transport/3281537/Porsche-and-VW-share-row-h ow-Germany-got-revenge-on-the-hedge-fund-locus ts.html

[R1Geezer]

well it could be! Not a dry eye in the house Gromit! Still must be a dilema for you, I mean captalist scum getting shafted on the one hand, on the other? capitalist scum........oh bu66ger!

[anotheoldgit]

Yawn!!!! Why did you find a need to post a link Gromit? I thought you had already copied and pasted most of the report in your question.

[youngmafbog]

Serves the greedy b*trds right.. Me, I laughed my c*ck off

[New Judge]

And the aspect of this that made me chuckle even louder was the fact that the shares which were being "borrowed" by the hedge funds (stage one of the short selling process) were actually being lent (again through intermediaries) by Porsche! So they also creamed off the fee paid by the hedge funds to those loaning them the shares!

Oh what larks!

Some hedge fund managers are now suggesting that Porsche's activities were "questionable". Of course, driving down stock values by circulation false rumours is perfevtly ethical.

The German authorities i have thankfully taken the view that if you play in the jungle you may sometimes be eaten by lions. If it helps see the end of the ludicrous short-selling practice then at least something good will come out of it.

[Gromit]

Sorry anotheoldgit,

I expect you lips lips are tired after reading all that.

[Quinlad]

Yawn, AOG??

But look at the double standards here!

Imagine if it wasn't hedge funds we were talking about but a family of Muslims? And imagine if they hadn't lost �24 billion, but they'd had their house fire-bombed?

Would people be laughing then? Would they???

[anotheoldgit]

Probably not Lad, only the sickest of people would laugh if a family's house was fire bombed, no matter what religion they followed.

So please don't assume everyone has the same sense of humour as yourself.

[BertiWooster]

'' I have had hedge fund managers literally in tears on the phone ''

I will shed a tear or two for them - crocodile ones , mind .

As to the fund managers suggesting that Porshes's activities were 'questionable' - youv'e jjust got to laugh , haven't you - it's like a burgular trying to nick your safe - it falls on his foot - and he has the temerity to complain to you that he has a throbbing toe .

[rov1200]

It is worrying where the worldwide �1.6 trillion losses went to. Most of it seemed to end up in the ether. Not many gained but nearly everybody lost. I can understand why some people buy gold, its a physical entity. The banks lost heavily not because of a shortage of money but just confidence. The cashless society seems only to make the problem worse.