Thursday, March 5, 2009

LABEL: UNINTENTIONAL HUMOUR

For your immediate reflection, from the Guardian - "Is the recession David Bowie's fault?":- Who is to blame for the recession? Forget all that stuff about out-of-control bankers, negligent governments and sleepwalking regulators; instead, according to the BBC's Evan Davis, it's time to point the finger at David Bowie - a pioneer not only of experimental rock music and what used to be called "gender bending", but exactly the kind of financial sophistry that got us in this mess.

In yesterday's Daily Mirror, Davis laid out his theory as follows. In 1997, Bowie needed millions of pounds to buy back the rights to his songs from a previous manager. With the help of a financier named David Pullman, he thus created the so-called "Bowie Bond", through which investors would receive a share of the royalties from 287 Bowie songs over the next 10 years (£55m worth of them were sold to the Prudential Insurance Company).

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