Laughter is meant to be an excellent healer. And those feeling the squeeze in the market turbulence have wasted no time in reaching for their preferred tonic.

The gallows humour around Europe’s beleaguered financial centres is just getting going. But with the FTSE 100 off more than 3.5 per cent on Thursday, there should be plenty more to come.

Here, as our first joke of the day, is an offering sent in by some of those toiling away at one of the European banks. Post below, or email us with your own rib-ticklers.

10 reasons Titanic was actually a subprime RMBS  

1. The downside was not immediately apparent
2. It went underwater rapidly despite assurances it was un-sinkable
3. Only a few wealthy people got out in time
4. The structure appeared iron-clad
5. Nobody really understood the risk
6. The disaster happened overnight London time
7. Nobody spent any time monitoring the risk
8. People spent a lot trying to lift it out of the water
9. People who actually made money were not in original deal
10. Despite the disaster, people still went on other ships

This entry was posted by Helen Thomas on Thursday, August 16th, 2007 at 13:07 and is filed under Capital markets. Edit this entry.