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  • dyyyy

    dyyyy

    Well-Known Member
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    Wasta and the Lebanese banking system - Finance 4 Lebanon

    Unlike the urban myth, the vast majority of the 1% are stuck in the Lebanese banking system.

    From the top 24,000 accounts (the 1%), from last summer to now, only $3 billion walked out (3.5%), annoying, but not detrimental.

    These are basically the Super-Wasta folks, but also some smart guys who saw it coming.

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    Those are 6,000 people (assuming 4 accounts per person). These used to be the most powerful people in the country a year ago & they’re lobbying hard to spread the damage all the way down, except until decision-makers realize that today they just have worthless Lollar.

    So decision makers have to decide:

    • Door #1: Piss off 6000 formerly powerful people (if your money is imprisoned, you’re just an another old guy with high cholesterol and blood pressure).
    • Door #2: Piss off millions who are already starting to get angry and break & burn stuff.
    If you’re a decision-maker, would you wait for Door #1 or 2 or would you have hightailed it out of Dodge (part of the $3 billion that exited since summer)? I’m guessing Super-Wasta is out. Only the weaker decision makers are still here, ones with a mere Wasta.

    Super-Wasta is the guy who can call a CEO & send his driver to pick up $1 million cash.

    Wasta is the guy who can speed up renewing his domestic helper’s work permit.

    It’s basically a 2 degrees of separation thing, not very effective in today’s banking environment.


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    Omeros

    Omeros

    Legendary Member
    Orange Room Supporter
    Chou hal jawab
    Anyways take this y’a imm walid
    bass la chouf iza ana bass dodd elgha2 el ta2ifieh
    seriously.. Eno where wanna take this conversation. Sure I'm with 3elmenye... bas mich 3elmeniet baroud at all.
    Betmoun 3a 2em Walid (LA yeje sabe mensale 3al nabe)
     
    light-in-dark

    light-in-dark

    Legendary Member
    seriously.. Eno where wanna take this conversation. Sure I'm with 3elmenye... bas mich 3elmeniet baroud at all.
    Betmoun 3a 2em Walid (LA yeje sabe mensale 3al nabe)
    Kil ma3 el 3îmanieh modern comme ma femme dit de moi mon arriéré préféré. Mon point de vu si nous serons laïcisé. Le Liban sera comme tout les autres pays arabes one color
     
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