Ig Nobel Economics Prize

Big Banks Receive Award For Their Part in Credit Crisis

It's the Ig Nobel prize time again! This time I truly laughed out loud when I read who the winners were for the economics category of the 2010 Ig Nobel Prize, a parody of the Nobel Prizes. In addition to silly research such as documenting bat fellatio and curing asthma with roller coaster rides, Wall Street firms were among the ranks of the duly acknowledged. Kudos went out to "the executives and directors of Goldman Sachs, AIG, Lehman Brothers, Bear Stearns, Merrill Lynch, and Magnetar" for their creative ways of investing that lead to the global economic downturn.

Maybe the companies execs were too modest about their part in the credit crisis, because they did not bother to show up or even decline the invitation. Ig Nobel research editor Marc Abrahams said, "We made a few attempts but soon realized it probably would not be possible. They never responded, not even with a 'No, thank you.'" Spoilsports!

Source: Getty
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