Thursday, November 11, 2010

Kilkeconomics 11/11/10

I am just back from the first ever Kilkeconomics gig! Richard Cooke, a Cork man, opened it up explaining how the idea came to him, basically he saw David at the Peacock theatre, liked what he did and decided to ask David would he combine comedy with economics. Richards runs the comedy fest in Kilkenny.

Then David came on and explained what would happen. To do this he introduced John Lanchester, Bill Black, Vihjaimur Bjarnason, Colin Murphy, Colin O’Regan & Neil Delamere.

The writer & economist explained what they did and Bill Black really explained how the corporate world made lemons into limes, by putting them in black boxes. The "black box" is a secret, so no one knows what it does!! The oranges represented regulated mortgage lending, the lemon, de-regulated property lending. Then physicists were paid huge bonuses that was linked to the value they put on the lime! My understanding of the lime is that it is fake and not real! You’d have to have been there because he did have oranges, lemon and a lime to explain how the banks in America committed fraud ;~) ;~)

Bill has helped to put behind bars, the financial people in America who committed financial fraud.

In between the comedians came on stage …………
and the jokes and craic were good. They had to be good, I laughed!!!

In the last section they above crew put on a drama that explained just how the property bubble was built and subsequently burst.

Bill Black says our Gov. are being bullied by the financial markets, but that our Gov. are fools, to allow them and us to be bullied.

All the men!! who took part in tonight's gig really did make sense of “What the hell just happened”, in really simple language.

They are all in the bar now………and I am sure the craic is continuing……….I am not there, as I don't like being in a bar on my own!

First Kilkeconomics blog completed!