Oct 26, 2009

These little piggies went to market

The Russian central bank has been indicating for months now that they want to diversify away from dollar reserves. Little did we know that they've already begun shifting loan collateral towards so-called “strange assets.” Struggling to deal with bad loans, Russia's two biggest lenders, OAO Sberbank (owned by one of our favorite billionaires and former spooks, Alexander Lebedev) and VTB Group, have begun accepting payment in kind, including stakes in risky (or should we say frisky) assets like Wild Orchid, a lingerie retailer. Just today, OAO Sberbank tried to repossess 40,450 pigs from a farmer near Samara on the Volga river. (Did I mention they're being quarantined for the African swine fever?)

No matter what lipstick/lingerie you put on these pigs, not a pretty sight...

Thanks to Dan for the tip!

1 comment:

Canadu said...

With the right lipstick and lingerie, pigs may be the new internet fetish. He's sitting on gold! Pure swine gold.