Comments on: Italy, A Country I Can’t Take Seriously

By: Christian Gross

Christian Gross — Sat, 05 Sep 2009 19:36:03 +0000

Are you trying to be an ignorant knob on purpose?

Have you ever looked at how these products are created in Italy? Do you even understand? Do you even understand that making these products requires years and years sitting doing nothing?

Obviously not!

Have you ever checked the balance sheets of companies that sell whiskey, or other products that require time?

It’s called an intangible asset! And banks lend against these intangible assets! Even in your country!

http://www.intangiblebusiness.com/Brand-services/Banking-services/Press-coverage/Lending-against-intangible-assets~1174.html

http://findarticles.com/p/articles/mi_qa5352/is_200801/ai_n24392870/

Next time think three times before posting!

By: HAM05

HAM05 — Mon, 31 Aug 2009 20:13:11 +0000

this is the most delicious news ive heard all day

By: parmigiano

parmigiano — Fri, 21 Aug 2009 21:33:55 +0000

it still smells better than most Us companies..

and i assure you, if the shit hits the fan it goes up 500% a week.

By: To The Hilt

To The Hilt — Thu, 20 Aug 2009 16:26:23 +0000

Wait until Hollywood gets ahold of this. I can see it now…

The Italian Job 2. Marky Mark and his team of ne’er-do-wells break into Credito Emiliano and throw a dinner party in the vault.

(There will be car chases)

By: Johnny Debacle

Johnny Debacle — Thu, 20 Aug 2009 12:24:52 +0000

Ajay will be here all week folks. Try the veal!

By: ajay

ajay — Thu, 20 Aug 2009 11:05:46 +0000

US banks will take marmalade and pickles as collateral as of September 2009, under a new ruling by the Federal Preserve Board.

By: HF

HF — Thu, 20 Aug 2009 09:44:13 +0000

At least they have some (very) tangible asset as colateral not some sort of MBO on CPDO that is backed by a sigature of a Joho (jobless + homeless).

Also they keep the colateral in their safes so they can perform a real time risk assessement, no need for some fancy motecarlo or VaR.

And as stated by Insider, the governement does provide bailout for the parmesan producers.

http://absolutearbitrageur.blogspot.com/2008/12/update-on-cheese-bail-out.html

and

http://absolutearbitrageur.blogspot.com/2008/12/parmigiano-reggiano-bailout.html

this video takes sometime to load so if you don’t want to wait just don’t follow the link

In conclusion, this is a government insured asset that has both financial and nutricional value. Long Parmigiano-reggiano!

By: Anal_yst

Anal_yst — Wed, 19 Aug 2009 20:39:36 +0000

@ Juggles

Just because I may look like an i-tai doesn’t mean I am one (although I’ve been known to enjoy their food, women, jokes at their expense, etc), but I digress…

By: Mr Juggles

Mr Juggles — Wed, 19 Aug 2009 20:02:04 +0000

We've been saying this for years, but they should really diversify into mackerel, if they are going to take this route.

By: RichL

RichL — Wed, 19 Aug 2009 19:58:04 +0000

It makes sense.

If a bank has to potentially eat the collateral, they should also do inventory loans for San Marzano tomatoes and pasta asciutta.

By: dsdt

dsdt — Wed, 19 Aug 2009 19:42:03 +0000

The question that should be on all our minds is how can we hedge against the dreaded “black rat” event.

By: Insider

Insider — Wed, 19 Aug 2009 19:21:17 +0000

Well, parmesan high prices are protected by the government, so banks are kind of automatically bailed out. Or something like that.

(Sorry, can’t find any better source in english for this government policy than this link:
http://lakesidecapital.wordpress.com/2008/12/10/we-made-it/ )

By: Mr Juggles

Mr Juggles — Wed, 19 Aug 2009 19:05:08 +0000

And there should have been a government cheese joke, although that probably would not be understood by most of our demo.

By: Mr Juggles

Mr Juggles — Wed, 19 Aug 2009 19:04:16 +0000

“Pot…kettle…black…”

Don’t you have a Princess to save or a Goomba to stomp, Luigi?

By: dsdt

dsdt — Wed, 19 Aug 2009 19:00:43 +0000

Before you know it, Italian quants (i.e. pizza chefs) will begin offering abs in pizza form. Assets (cheesy goodness, ham, and olive oil): check, strong roi (deliciousness): check, slicing/dicing: check.

By: Anal_yst

Anal_yst — Wed, 19 Aug 2009 16:42:08 +0000

Our “Banks” took garbage McMansions as collateral, among other things, that are/were at least as silly as delicious cheese.

Pot…kettle…black…

By: To The Hilt

To The Hilt — Wed, 19 Aug 2009 14:47:48 +0000

I heard the FED was going to accept cheese as collateral for TALF.

Only American cheese though.