"If you're in the market for financial services garbage collection, there's plenty to do right now".
SHANGHAI, March 28 — Song Tiping, a peasant from rural Jiangsu Province, and Bernie Keansley-prAustralianstralian executive, would not at first glance seem to have much in common, and they do not, except for one thing: both were drawn here by the unlikely financial promise of garbage, towering mountains of refuse that attest to this city's status as a raging boomtown.
People stop bathing, eating, cleaning their homes, taking their medications, managing their financial affairs, disposing of garbage, going to the doctor and more.
But last week, a big bank agreed to pay a price: Bank of America announced that it would part with $8.5 billion to settle claims that its Countrywide Financial unit had packaged garbage loans into investments that were said to be safe.
In financial modeling, the law of GIGO ("Garbage In, Garbage Out") is an important rule we should never forget.
The bride's father is the chief financial officer of Avid Waste Systems, a garbage hauling and recycling company in the Bronx, where her mother works as an accounts receivable manager.
He said that promoters of tax shelters often sold "garbage" to chief financial officers, who are often not expert in tax matters and who are increasingly inclined to buy these products over the objections of company tax directors.
During the financial crisis, a reduction in garbage seemed to be the harbinger of bad news.
After 10 years, the local government recognized the garbage-dump community, providing financial support.
But even restaurants packing in customers can run into financial problems given the expenses: utilities, insurance, garbage collection, exterminators, licensing fees, taxes.
