Credit crunch

Moderators: Phil Winkler, Graham Smith, Pete Tabord

Credit crunch

Postby Pete Tabord » Thu Nov 27, 2008 1:59 pm

Today's interesting fact.

In the Mongol empire, (ca. 1250-1400) many financial instruments and laws we would regard as 'modern' were introduced. Among these concepts were those of 'high risk enterprises' which were given tax breaks if the technology or new trade was thought to be worthwhile. And of bankruptcy, so anyone who failed in an endeavor to bring advantage to the empire in this way could clear their debts and try again. However there was also a 'three strikes and you are out' rule - go bankrupt three times and you were beheaded...
Peter J. Tabord
Head of Development
Database Software Ltd.
Pete Tabord
Posts: 1882
Joined: Fri Sep 07, 2007 12:48 pm
Location: Caernarfon, Gwynedd, UK
Has thanked: 0 time
Been thanked: 3 times

Re: Credit crunch

Postby Phil Winkler » Thu Nov 27, 2008 2:04 pm

There goes Carl Icahn's head and a few others.
Phil Winkler
PLM Consulting, Inc.
Phil Winkler
Posts: 890
Joined: Fri Sep 07, 2007 12:45 pm
Has thanked: 0 time
Been thanked: 0 time

Return to Open Talk

Who is online

Users browsing this forum: No registered users and 0 guests