More Slithy Toves Gyring and Gimbling in the Wabe

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Bankruptcies Hit All-Time High
In the mid-1990s, bankruptcies in Canada had hit an all-time high. I have a sneaking suspicion that the record numbers then have since been surpassed. There was that Tech bubble, f’rinstance . . .

Bre-X Screensaver

Bre-X Screensaver

Much like the ‘Tech bubble’ in microcosm, the Bre-X fiasco caught a lot of well-heeled investors in their pocketbooks. People got the correct impression that something was wrong when a Bre-X geologist face-planted from a helicopter prior to its landing, and Indonesian gold mysteriously vanished from core samples. There’s a great write-up here
if you’re not into the CBC’s video archives.

This was the biggest gold fraud ever. It made millionaires from paupers, and — when the other shoe (and geologist) fell — turned millionaires into paupers.

The Bre-X Fraud

. . .

And, if gold wasn’t your bag, there was always oil:

Will Lube for Food

Will Lube for Food

(The duck sez, ‘Crude.’)

The cartoon above was in reference to the UN Security Council Food for Oil resolution after the first US-Iraq war.