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Top gear’s clarkson on investing

October 9, 2008

Top Gear presenter, Jeremy Clarkson- a wealth man made rich by celebrity vents his frustration at the banking system and the current crisis.

“As I sat there on that horrible Monday, watching the whole financial world on
the brink of collapse, I thought back to all the midnight oil I’d burnt
writing these columns, all the crappy hotels I’d stayed in while making
various television shows. And how all of that revenue would be lost for a
raft of reasons I simply didn’t understand.


Of course I made strenuous efforts to get my money out of AIG as soon as the
scale of its problems became apparent. But it wasn’t possible. It had shut
the fund in which I’d invested and it would remain closed for three months
while it tried to sell the assets. “We need to do this in an orderly
fashion,” said the man on the phone, calmly.


Inwardly I was screaming. I don’t give a shit about an orderly fashion, any
more than a man in the trenches wants to look smart while running for his
life. It’s my money. I gave it to you. You’ve squandered it on a Mexican’s
house in San Diego and a stupid football team and that’s your problem. Not
mine.


It turned out, however, that I was wrong. It was my problem, so I decided to
try to understand banking. And what I’ve gleaned from a two-week crash
course is that it is completely unfathomable. There isn’t a single person in
the entire world who has the first idea how the system works.”

Posted by Ed Cotton

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