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Politics : Formerly About Advanced Micro Devices

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To: TimF who wrote (482627)	5/21/2009 11:13:16 PM
From: Joe NYC	1 Recommendation Read Replies (1) of 1573902

People respond somewhat rationally to obvious incentives. If you make lending riskier by letting those junior to the lenders get theirs first if the company fails, than you create a disincentive to lend. Before disincentive to lend at all will come disincentive to lend at favorable terms. There is a huge difference between the rate one can get on an unsecured loan (Credit Card) and a secured loan (Mortgage). Obama has erased the distinction, and as a result, may have erased source of funding at favorable terms to any borrower. Joe

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