Real-Life Liquidity Crisis Spreading to Fake Life!

[jk]

Real-Life Liquidity Crisis Spreading to Fake Life! Forget the stupid credit meltdown in the real world, even the fake banks are melting down!

• The biggest bank in the virtual world of Second Life has closed its doors after a run on its deposits, the Sydney Morning Herald reported.
• Ginko Financial. owned by a Brazilian from Sao Paulo whose real name is Andre Sanchez , stopped accepting deposits, froze all withdrawals and converted account holders' balances into "tradeable debt securities" called Ginko Perpetual Bonds, the SMH reported.
• The bonds can be bought and sold on the World Stock Exchange (WSE), the largest of three sharemarkets in Second Life, while Ginko hopes to replenish its reserves.
• The bank claimed to have 18,000 accounts and deposits amounting to $700,000 in real money.
• The currency in Second Life is called the Linden ($L) and is convertible into US dollars at an exchange rate of $L270 to the dollar.
• Because there aren't enough opportunities in real life to lose money, we need to figure out how to lose real money in the fake world too!

http://www.minyanville.com/articles/index.php?a=13683

[c1ue]

Re: Real-Life Liquidity Crisis Spreading to Fake Life!

Because there aren't enough opportunities in real life to lose money, we need to figure out how to lose real money in the fake world too!

Practice makes perfect! ;)

[unlucky]

Re: Real-Life Liquidity Crisis Spreading to Fake Life!

What they need is a fake federal bank to bail them out...

Oh, we've already got one of those..