Apparently, David Bowie is to blame for the credit crunch, having "invented" securitisation in the context of bonds for royalties back in 1997.
I think poor old Dave is just a scapegoat, personally. Just because the Thin White Duke has broad (padded) shoulders, we shouldn't be pinning financial misdemeanours on his wide lapels. Rather take a trip down memory lane and, in the style of those Bowie-inspired retro-chic TV cop series, use Ziggy as a soundtrack for the last 40 years in pensions (cue flashback). So ICTA 1970 is published, introducing the eponymous hits we knew as Section 226 and 226a, to the sound of Space Oddity, the ditty that established the former David Robert Jones of Brixton in the charts. The modern era for pe...
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