Banks are stupid. They should have put some money into a sinking fund in case they had to liquidate, so they wouldn’t have to be underwater on these loans.
parsy, who hopes this little joke doesn’t hit a berg
A pirate could buy them but it would be even better to go off the coast of Singapore and steal them. I hear there are a few hundred ships anchored there due to a lack of shipping needs.
Anyone that thinks the economy will recover soon is not paying attention.
To understand how global economy is really doing, look at global shipping rates.
By Vadim Pokhlebkin
Mon, 21 Sep 2009 20:45:00 ET
If you keep up with international news, you may have seen this picture on Britain's dailymail.co.uk on September 16. The story said:
"The biggest and most secretive gathering of ships in maritime history lies at anchor east of Singapore. Never before photographed, it is bigger than the U.S. and British navies combined but has no crew, no cargo and no destination..."
[snip]