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Strategies & Market Trends : ahhaha's ahs

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To: The Wharf who wrote (10247)	11/14/2007 5:22:57 PM
From: frankw1900	Read Replies (1) of 24758

This is an entirely different concept than prior times where the cost was based on extent of the risk and price of loans was high because of the possibility of negative return. This isn't really any different from the kind of activity that was going on thirty years ago, except for the means of expressing stupidity and cupidity. Then banks were sending freshly minted MBAs around the world to loan bags full of money to tin pot governments because in the words of a very prominent banker, who obviously never read any history, "Sovereigns don't default," or something like that. Well, they did. It has been and is my belief C$ is also at risk. At risk of what? For decades it was way below par with the $US. Right now, it's not. What's the problem? Things change.

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