Wednesday, October 8, 2008

Will the Real Pirates Please Stand Up?

Stalled in the middle of the intersection like we’d run out of gas, we sat, alone in the dark, with no true illumination from D.C. to show us the way. Or so we thought, until we heard the thundering jet engines of Air Force One oscillate above us. We looked up high in the sky and witnessed a breathtaking sight. Out of Air Force One’s rear passenger door, and on top of the discharged emergency evacuation slide which flapped spastically in the air, spewed forth all of the financial district’s CEOs with golden parachutes strapped to their backs. Their parachutes glittered in the style of fool’s gold.

Although they fell toward the ground in droves (and randomly like care packages that are dropped into POW camps when the war is nearing an end), we tried to follow each parachute as it opened up and released what we later learned was a new viral strain formally classified as the “Bush Financial Flu”. Subsequent studies eventually confirmed that the virus was carried and transmitted through the small air-borne drops of crude oil that leeched from the edges of the parachutes upon deployment. (For more information on the "Bush Flu", see definition below).

It became evident almost immediately that a majority of those golden parachutes weren’t going to hit the ground, let alone make it down safely. Out of nowhere appeared several old hand-me-down helicopters from a third world country which began to ominously encircle Air Force One. It was difficult to distinguish the origin of these helicopters because the only identifying marks they had were matching mission statements hastily spray-painted on to their side panels that simply read “WE’RE IN IT FOR THE MONEY”. From the choppers' opened side-doors emerged a countless outpouring of Somalian hang-gliders, and we watched in amazement as they swooped in and intercepted nearly all of the golden parachutes after ejection from Air Force One.

From our vantage point in the middle of the intersection, we could see a few of the CEOs slip through the swarm of hang-glider pirates and hit the ground around us. And in the rear view mirror we witnessed a duplicitous spectacle when a swarm of attorneys came running from all directions, clawing over each other as they scurried out to 'meet-n-greet' the fallen CEOs like ambulance chasers. Regrettably, a large portion of the CEOs were seized mid-air by the Somalian pirates because, well, we could state the obvious in saying that “like attracts like”, but the truth of the matter is, they didn’t even know they were high-jacking golden parachutes. They really thought they were getting $700 Billion in subprime mortgage paper that they could convert into quick cash on the secondary market.

If all that glitters isn’t gold (and that includes black gold), then who will survive, or perhaps even build an immunity to, the coming “Bush Flu” season?

For more about the Hedge Fund Castaways, see our ‘Dream Sequence’ September 28, 2008 posting "Wall Street Scrooges Live the Dream".

1 comment:

  1. This is interesting hindsight given the fact that the Somalian pirates have been holding the Arab oil tanker Sirius Star hostage for 2 months (since Nov) and they just got a $3million ransom payment deposited to them on the ship via parachute today.


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