September 16, 2007

A $30 BILLION WRITEOFF for investment banks. I predict the coverage will go along these lines:

Kramer: “It’s a write off for them.”
Jerry: “How is it a write off?”
Kramer: “They just write it off.”
Jerry: “Write it off what?”
Kramer: “Jerry, all these big companies, they write off everything.”
Jerry: “You don’t even know what a write off is.”
Kramer: “Do you?”
Jerry: “No, I don’t!”
Kramer: “But, they do. And they’re the ones writing it off.”

Indeed.

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