Thursday, September 24, 2009

$100

Read a book from Stephen Bayley and here's something interesting to share.


Do you know that someone who's being asked to lend a million pounds is faced really with only one simple question to answer: will I get my money back? That of course is not a logical question, because its asking to know the future. There is no logic which can describe what is going to happen a few years from now.


A banker who spends his whole life lending money is endlessly 'deciding' what will happen in the future. But of course, he is not deciding, he is just guessing. He will never call it a guess - thats too scarily truthful.


He'll call it an 'informed estimate', an intelligent estimation', a 'considered opinion' based on your supplied info(i.e. payslips). But believe me, its a guess. No one can foretell the future.


Which leads me to this interesting quote from John Paul Getty - "owe the bank $100 and that's your problem, owe them $100mil, and that's the bank's problem. "


Do let me know if you managed to convince the bank to lend you $100mil.

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