I’m wrapping up a truly enjoyable read, Traders, Guns, & Money. The book talks about the going abouts in the world of financial derivatives and it’s a fun read. I’ve even managed to actually learn a thing or two about what all the greek symbols in Financial engineering actually mean. In other words, it’s pretty accessible as well.
In light of that book, I chuckled when reading this quote today by Richard Marin, Chief Executive of Bear Stearns Asset Management:
“We have brought in additional resources with expertise in these asset classes to facilitate the orderly deleveraging process,” said he, speaking of an ailing fund with $1.2 billion in debt.
Orderly deleveraging?!? It’s way up there with collateral damage and corporate restructuring as far as rhetoric is concerned, ain’t it?