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March 30, 2013

Cyprus goes with the Milo Minderbinder plan [Purp]

See, we're not really robbing you per se, we're giving you a "share" in the enterprise!

...Under conditions expected to be announced on Saturday, depositors in Bank of Cyprus will get shares in the bank worth 37.5 percent of their deposits over 100,000 euros, the source told Reuters, while the rest of their deposits may never be paid back...
The bad news is that 37.5% of zero is still zero, and the plane is crashing. The worser news is your parachute was stolen and your share doesn't have a rip cord.


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posted by Open Blogger at 08:09 PM

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