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What do Canada, Iran and the Italian Mafia have in common?

16 February 2009 1 comment

Retired member

A quick search on Google earlier today flagged up some puzzling results. While searching for an article about how Canada has managed to escape relatively unscathed from the financial meltdown, Google also helpfully (??) flagged up that others that have failed to suffer the economic plight are none other than Iran…and the Italian Mafia.

At the risk of someone telling me to dye my hair blonde and remain true to my roots, what pray tell, does the Italian Mafia have in common with countries like Canada and Iran?

Alas I wouldn’t be able to give you a bonus for giving me the right answer if there is one, as I am not actually a banker. Hell, I probably wouldn’t be able to give you a bonus if you gave me the wrong answer as, you guessed it, I am not a banker. Am just curious to know.

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Comments: (3)

Elizabeth Lumley Global FinTech Commentator at Girl, Disrupted

16 February 2009

You go to bed in Canada and wake up with a severed Moose head in your bed? Just guessing.

Those Canadians--maybe they invested all their money in beer and ice hockey instead of sub-prime.

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A Finextra member

26 February 2009

It may have something to do with Giffen goods.

Or it may be that they have nothing in common apart from this fact, and that the reasons are three separate reasons for each one.

Regards,

Deborama

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A Finextra member

26 February 2009

Not sure that the Iranians would have been too keen on investing in US sub-prime on idealogical grounds, nor that it would have been in the vested interests of the Mafia (taking as read of course that AML and KYC technology would have prevented any of their ill-gotten gains trickling / flooding into the financial system). As for the Canadians.....they sneaked a look over the fence at their (10 x salary leveraged) neighbours and quite correctly decided that keeping up with the Jones' isn't always a great idea.

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