From Pine View Farm

Metafloor 0

This seems to be a fitting metaphor for the acumen of those financial geniuses who get paid for performance attendance:

Deutsche Bank AG’s Cosmopolitan Resort & Casino complex in Las Vegas, already the most expensive debacle in the city for a single lender, is now two years behind schedule, $2 billion over budget and under water — literally.

Deutsche Bank, the resort’s owner since it foreclosed on developer Ian Bruce Eichner last year, requires 24-hour pumps and containment walls after workers hit an aquifer below the Nevada desert floor. It’s another challenge for a project whose delays and redesigns have sparked lawsuits from condominium buyers and sales agents amid record declines in Las Vegas’s gambling revenue, home prices and hotel-room bookings.

Ya know, I bet that somewhere nearby was a geologist–who doesn’t get bonuses for geologing–who knew about that aquifer and was just waiting to be asked . . . .

But it’s become pretty clear that you can’t tell Masters of the Universe anything. Those bonuses confirm their conviction that they are always right, that they are never wrong.

Pah!

Share

Comments are closed.