Paper Mache Pigs- Fabric Tourre and John Paulson
Okay, so I had to do these pigs as a pair. They go together like Laurel and Hardy, Carson and McMahon, slime and ooze. We start with Fabrice Tourre, a British-based banker who is known as, get this, “Fabulous Fab.” You can’t make stuff like that up. He made £1.5 million a year (roughly $2.4million) to put together Collateralized Debt Obligations, or CDOs, for GoldmanSachs. CDOs are basically bundles of similar loans that can be bought or sold to investors. Fabulous Fab has been charged in the US with purposely putting together toxic CDOs filled with those “high risk” real estate loans we’ve all heard about. These were sold on the open market and ultimately resulted in $103.2 million worth of losses to those who bought them. They say Fabulous Fab loved to party, loved to live large, and had a “goofy sense of humor.” Ha ha, what a funny guy.
Now why would someone do such a dastardly thing you ask? This is where Fab’s buddy, billionaire hedge fund owner John Paulson, comes in. You see John made bets on the stock market that those investments would fail. You could say that he “piggy backed” on Fab’s fouls investments. So how much did Mr.Paulson make on those sure bets? About$3.2 BILLION! Unbelievable! Now Paulson has not been charged with any crime. He just got really, really lucky. Criminal or not, John Paulson is a pig, piggy, pig pig. Paulson is under scrutiny right now for making the same kinds of bets against Greece, yes the country. If Greece goes under, Paulson’s pile of money gets massively higher.
Speaking of piles, a little math exercise is in order to understand the kind of money we are talking about here. I live in Seattle where we have the Space Needle. It stands at 605 feet tall. How much did John Paulson make on betting against Fab’s investment vehicles? It is the roughly the equivalent of a stack of $100 bills 20.6 Space Needles tall (see photo below).
No one can tell me that it doesn’t hurt all of us when people like Paulson reap billions of dollars in rewards on legal, but smelly deals like this. Now I may be naive, but I think the world would have been a better place if Paulson (or the SEC, is anyone out there watching?) had warned investors about Fabulous Fab’s poison investments instead of waiting like a vulture for them to collapse in order to make an obscene amount of money. Oink oink oink!
Yes, a pile of hundred dollar bills 20 Space Needles tall! Does anyone really DESERVE such money, no matter what they do? Let me guess, John thinks so.
Categories: uncategorized
Tags: papier mache paper mache ceo greed slimeballs recession profits pigs wallstreet tycoon
Oh my gosh, Dan, this is brilliant! I love the piggy back approach. You really captured the greedy nature of these two. As always, beautiful work.
How do you work on these without becoming enraged? I don't know why, but I can still be shocked at the way some people choose to conduct their lives.
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Thank you Willow. You are always too nice. And you are the first to comment this time! Hurray. I was worried about doing two at once. It will actually stand by itself. One of John's back legs is on the ground for a third leg (no, not that third leg). I think they turned out fine but I don't think I'll be doing two at a time any more. Too time consuming.
See you
Dan
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Hi Dan:
I just bought your Paper Mache Monsters book and I love it. I was browsing your site and came across this blog and I really love the artwork. I agree with you these people are truly pigs. LOL. They are utterly pathetic and they make me just want to throw up. They could be helping people with a lot less, but no these pigs are pigging on all of their money for their own comfort. They deserve to be on this blog for pigs. I could say a whole lot more but then I would have to write a book. Keep up the fantastic artwork and the editorials on these pigs. Oink Oink Oink. I love it.
Sincerely from us in Graham Washington,
dflork
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Hello Debbie,
Very nice to meet you. Thank you for the nice comment! I'm glad you like the site. I must say that as I work on them, taking time away from other, more meaningful art projects, I've wonder about why I decided to commit myself to such a task. It's such a silly little protest. But I'll tell you, every day I come across some news article or TV segment about these people and it enrages me (I could feel your rage as well). What is worse than them taking the money, members of Congress, or the SEC, think that they have somehow "punished" them because they got called before some committee to account for themselves. They get embarrassed sometimes. But mostly they are compliant of even defiant. In the end, they essentially walk away with their all of their money intact. Joseph Cassano brings the economy to its knees and then walks away with hundreds of millions and a million a month in retirement.
Sorry, here I go again. When I research this stuff it boils my blood. There are sooo many candidates to choose from, and they are all such big pigs. I've got someone next month that everyone forgot about. It'll be a pleasure making fun of him. Of course I'm sure he won't care since he's probably on his yacht someplace.
Anyway, thank you again. Now make some monsters! And let me know if you need any advice.
Dan
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Hi Dan:
Thank you for your response. I am working on a monster. It is slow going since I have cats who like to check out all my stuff. LOL.
We love your Paper Mache Pigs page, the artwork is so inspiring, LOL and your whole Paper Mache website of stuff. We wholeheartedly agree with you. Thank you for being an important voice putting those of us who were somewhat unaware of these pigs in the know. You really are doing a great service to humanity you know. You keep on keeping on.
My family and I salute you.
Debbie Flork aka dflork
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I agree totally with you about all the 3 posted pigzzzz. Absolutely Disgusting. No idea what makes these people tick. oh sorry... I DO, $$$$$$$
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Thank you Shanna,
I'm glad you like my little protest. My next pig is taking a bit longer because I'm in the thick of a huge commission. But I'll get back to work on it soon.
Thanks for popping by.
Dan
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Okay, this is the third page that I have visited. These pigs (your paper mache work) are soooo gross! but hilarious! haha! I love it. The tongue and teeth really amaze me...wow.
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These pigs are meant to be gross of course, like the characters they represent. Thank you again for your nice remarks.
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