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Library: A little story about Portugal (and money)


Author: jkk
Date:May 5 2011

This story is (almost) fictitious and is not based on facts.

Mr. Portugal was a bit low on money and his throat was quite dry also.
Mr. Portugal decided to go and try get a loan from Mr. Banker.

Mr. Banker looked at Mr. Portugal from head to toe and thought that, yes sir, 
Mr. Portugal looks respectable, of course I can give him a loan.

Mr. Portugal looked at his wallet  and thought that this money will last
forever! And went to wet his dry throat.

It was not long before the Mr. Portugal was again a bit low on money. 
Mr. Portugal thought that he probably should apply for jobs, but his throat
was a bit dry again ... And there's plenty of time before the loan has to be
paid back, and the interest was so low too that it won't really matter if he
took another loan... No need to go to work just yet. Thus, Mr. Portugal went
again in front of Mr. Banker, and explained that he would need some more
money. Mr. Portugal easily got another loan.

Mr. Portugal spent the money in same way as he spent his money before, and one
day Mr. Banker was calling Mr. Portugal, And asked if Mr. Portugal remembered
that the loan payback time is getting closer. Mr. Portugal in his hangover
Jumped up and looked in his wallet, empty again. He had partied so much that
he had totally forgot to go to look for jobs. Mr. Portugal promised to the Mr.
Banker to pay his debts as agreed. 
Mr. Portugal, therefore, went to ask for loan from another bank to cover up
the previous loan.
Another Banker looked at Mr. Portugal, from head to toe, and thought that the
economy is on rise, this may be a worthwhile investment.
So Mr. Portugal got again a new loan, this time so much that he coul pay all
his debts to first Mr. Banker.

Mr. Portugal continued to live as before, and again the day came when his
money was running low, and the another Banker started to ask for his money
Mr portugal went to see the first Banker, who was happy to give a new loan to
Mr. Portugal, who had previously paid back his loans properly in time.

Mr. Portugal continued on his way again like he had used to do, he asked for
new loans from third and fourth bank, and because he had a good reputation
with paying back loans, he also got everything he asked for.

Eventually the day came when the Mr. Portugal owed money in every direction so
much that nobody was giving him any more new loans, and the payback dates were
getting dangerously close. Mr. Portugal was now really trying to get some job,
but he wasn't offered anyting with a good salary because he was a little
shabby and smelled like old booze and piss, also he really wasn't any good at
anything. so he eventually got a job with shoveling manure, which he didn't
like at all.

Mr. Banker became suspicious of Mr. Portugal's ability to pay back when he saw
Mr. Portugal in his new job. He had thought that Mr. Portugal had a lucrative
business investment which would produce lots of profits.
The banker asked if Mr. Credit Rater could check out the Mr. Portugal's
Mr. Credit Rater discovered that Mr. Portugal had a large debt for many other
Mr. Credit Rater winked an eye at Mr. Banker, and he winked an eye back, and
the Mr. Credit Rater cried out loudly that Mr. Portugal has this and that much
dept total, and he's lowering Mr. Portugal's credit rating! 
Now all the Bankers got an excuse to raise Mr. Portugal's loan interests to
milk every extra drop of money he might have.

But Mr. Portugal with his low income was no longer able to pay the interests,
or food, or, gasp, booze.
Now Mr. Credit Rater, as agreed with the Bankers, yelled out that Mr. Portugal
has no money, and his credit rating will go to lowest class!
Now greedy bankers raised the loan interests as high as possible, as an
incentive to get Mr. Portugal to sell out his property cheaply for the Bankers
or their friends, and also to pay back the loans with the money from sales.

Mr. Portugal was desperate, but he didn't even think about selling his house
and belongings, but instead called all its neighbors that if they could lend
him a little money and come to back up him for a couple of "small" loans?
Eventually it became clear to Mr. Portugal's neighbors, that the bankers, who
they had given all their savings to invest and gain profits for them, had
loaned all the money to Mr. Portugal. And if Mr. Portugal would not be able to
pay back his loans, even their savings would be lost.
Therefore Mr. Portugal's neighbors decided to raise money for him from the
entire block, trying to scare off people with future views where they would
lose all their savings, and also if Mr. Portugal would lose his house, there
would be built a landfill site which would lower the value of the entire

In the other end of the block lived the young Ms. Finland, and the neighbors
finally came there to ask for money. They were trying to scare with  loss of 
job and banishment, if Ms. Finland did not immediately give the Mr. Portugal
money and to back up his loans with others. 
Ms. Finland had some debt too, but was able to pay her interests and shorten
the loans sometimes. Ms. Finland did not think she would ever see the money
again if she gave any to Mr. Portugal, which she knew was  a penniless drunk.
Ms. Finland had already tight enough budget, and would have to take new loans 
if she would agree with the unreasonable requests of others.

So, Ms. Finland did not pay, and one by one the other neighbors said that if
she does not pay, neither they will.

Mr. Portugal's property eventually forced to be auctioned off and the greedy
Bankers were left without their enormous would-be profits.
The End