March 24, 2009

Indians buy Manhattan for $24

Wall St. Excesses Take Ultimate Toll:  Manhattan Sold Back to the IndiansIn perhaps the ultimate sign that the reckless behavior of Wall Street is exacting an “historic” toll, the Borough of Manhattan, originally purchased by the Dutch from the Indians 400 years ago, was today sold back to the same Native-American tribe.

Most shockingly, the price was also the same—$24—although given the strength of the Indian bargaining position, they did not have to pay cash, but only toxic stockpiles of “corn derivatives,” also known as ethanol.

Perhaps fittingly, while the seller in such transactions typically springs for the celebratory lunch, in this case, the contracting parties went ”Dutch treat.”

Although the tribe indicated that the entire island of Manhattan would be turned into one giant gambling casino, most financial experts agreed that this represented an improvement in “risk management” over the business practices of the last ten years.
Comment:  Good idea for a satire, but the execution is mediocre. The "jokes" fall flat and are a bit stereotypical.

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