Latvian bankers apparently have some super-cosmic powers that have yet to be harnessed by others in the finance industry because they are taking peoples’ souls as collateral.
Call us skeptical but Latvian bankers would be the last members of the banking community to be the recipients of a Mortal Kombat-esque finishing move that would be reaped upon borrowers that turn out to be deadbeats.
If Matt Taibbi is to believed (and why wouldn’t he? He works at Rolling Stone after all), then this practice is obviously something that Goldman Sachs has already considered and Blankfein and Co. have utimately decided that bringing hellish powers to earth will just have to wait.
Would you pledge your soul as loan collateral? [Reuters via FT Alphaville]