Saturday, December 13, 2008

Piggy Bank goes bankrupt

Poor PiggyNew York, USA. Leading investment bank of children, the Piggy Bank, has filed for bankruptcy under Chapter 11 of United States Bankruptcy Code. The bank had bought risky assets from parent organizations and was finding it an uphill task to continue in business after parents went bankrupt. Piggy Bank expects the government to announce a bailout plan for them.

“We shouldn’t be punished for what the bigger banks did. We had no original exposure to any risky asset and we had been performing rather well. Just because we put faith on our parent banks, we are into this mess now. Government should rescue us.” Piggy Bank CEO Richard Chuld told.

Faking News has learnt that various governments of the world could come together to announce a bailout plan. The bailout plan would be made conditional and Piggy Bank would be required to cut down on its expenses and operations to bare minimum till the financial crisis blew over.

While children across the world are hopeful, they are unhappy over the possibility of reserves of Piggy Bank going down. They are also worried a bit as the bailout plan has already run into troubled waters with some groups in Pakistan protesting against it.

“Pig is unclean and unislamic, we have got nothing to do with it. Our children have never used piggy bank, not even a camel bank. Why should the Pakistani government join this bailout plan?” Karachi based financial group Jamaat-ul-Sauda’s press release read.

Government of Pakistan has not categorically supported or opposed the bailout plan yet, but has asked for tangible proofs from the Fed that Pakistani children have been using the services of Piggy Bank.

Experts believe that Pakistan’s own financial health is going through red and the government may not be able to contribute much in the bailout package. They are also helpless as groups like Jamaat-ul-Sauda have become quite powerful in recent years. But at the same time they don’t want to be seen as being indifferent to a global problem therefore they are biding time.

Amidst all these, children of the world spent another listless day thanks to the prudence of their parents.


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