Opinion: Blame it (financial panic) on Garret
by Garret Bakalava
January 08, 2008
Arbitrage Wise (in busy mode), standing by his decisions, surrounded by demanding, frightened and waiting avatars at the JT Financials Headquarters.

I am the most unlikely of people or avatars to have invested money in an SL bank or stock exchange.  Not one linden cent in Gingko, not one linden cent since. Until—of all days, today.

I met a nice young man Saturday who told me that he real life trades stocks.  He gave me a stock tip, which of course I didn’t act on. He IMed me this morning to see if I had bought any of the stocks.  No. Actually, I hadn’t put much, if any, thought to it since I had talked with him.

I had been thinking of the SL financial market(s) lately, not as a way to make money but as a news story or set of news stories. He told me to look at some announcements on the SL Capital Exchange Web site. I did. A rising stock. Perhaps it was too late to really get in on it, but I decided it couldn’t hurt much to put a limit buy order in, and it would be “fun” to track what happened over the next several months.

My new friend led me through the sign-up process, I plunked down a few thousand lindens (yes, only a few), placed my money in the “bank” and proceeded to place my buy orders.

It’s campaign time in RL, so I am busy doing my fair share of organizing in RL, so I went out for two hours, came home, checked my email and had a somewhat strange set of offlines from one of SLNN’s writers.  

I had no clue what she was talking about, but I clicked on a link to the Official Linden announcement.  Well, it appears my experiment will be a short one. 

I placed a few IMs to the less than a handful of contacts I personally have in the financial sector.  As anyone can imagine, it took some time for me to get replies.

We (SLNN) recently hired a new business editor who knows a lot more about the SL markets and banks than I will ever hope to know, but he is in New Hampshire today, also organizing for a candidate.

Anyway, this is what I have found out from a few contacts: Cash Yiyuan, VP Investor Relations for SL Capital Exchange told me that it’s not clear what the Linden announcement means for the SL stock exchanges and that they have asked for clarification from the Linden powers that be.

When I reached, Arbitrage Wise of SL Capital Exchange, he asked me to join a group to get an


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