A not altogether ugly lady with parkinsons cuts my hair.
The conversation flows between Russian and English. Andrey, another client(Bill Rutledge), Svetlana (parkinsons lady), and Yuriy converse. ("--" is russian I do not understand)
Andrey: -----clam cowder, da, clam chowder----
Svetlana: dan clam chowder,da -------
Yuriy: Clam chowder? Clam chowder?
Andrey: Claaaam Chowwwwder, da.
Bill: So I've been reading about bear sterns and how the derivative market was completely misunderstood.
Andrey to Bill: The houses, they borrow, yes they sign loan but no money. No boat. They sign but no money. They loan.
Bill: yes the mortgage backed securities...
Andrey: The hotels, $1,000 per night in India, in Moscow, they loan and many of the owner they own building...
Bill: Yes as I was saying I've...
Svetlana: Clam Chowder, Claaam (hand movement) Chowwwwderr
Yuriy: da, clam chowder -------
Bill: been reading this book about bear sterns its ridiculous how they managed these mortgages
Andrey: building yes buildings they have to pay loan so increase rent and russians make loan like this too hotels $1,000 per night and pay off mortgage.
Yuriy: Clam Chowder???
Svetlana: Claaaam Chowder---------
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