Yesterday FT Alphaville had three posts:
What a debut securitisation tells us about fintechThat grabbed my eye but rather than sticking to the topics at hand my mind wandered to Carl Icahn's time at Trans World Airlines.
Is Lufthansa an e-money issuer?
Can air miles points be securitised?
Old Carl had bought the storied carrier with unsecured junk bonds and famously proceeded to mortgage everything he could including one "senior secured" issue backed by collateral that included spare light bulbs for the planes. The TWA light bulb bonds.
TWA went broke, I don't know what became of the light bulbs, but combined with reminiscences of the copper trading glory days of 15 years ago I thought, "Uh oh":
That's Vasili Maksimov's "Everything is in the past" (1889), which the Russian State Tretyakov Gallery describes as:
.... "Everything is in the past" , where the artist shows us one of the slowly disappearing "nests of the gentry", tackling the themes of a elegaic country estate life, senility and irreversibility of time.....Yikes, I am not ready for samovars and knitting needles. "Hello fellow kids, what is new with blockchain?"
Although, come to think of it, maybe some tea would be nice.
