Derivatives: Darth Vader's Revenge Message Board

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Non-Tech : Derivatives: Darth Vader's Revenge

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To: ahhaha who wrote (317)	10/4/1998 2:28:00 AM
From: Tundra	Read Replies (1) of 2794

ahhaha, I appreciate your quick response; it will take some time to digest it. As an aside, I remember the high interest rate environment in the early eighties quite well. Transactional costs (other than the high interest rate costs) ran much higher as legal forum shopping was necessitated to avoid potential usury defenses. If sufficient contacts existed (and local law otherwise permit it), New York was the law of choice. It had no usury limit. In any event virtually all bank lending in Florida (where I lived) required intense review of documentation b/c penalties for usury violations were quite severe; and at those rates were too close for comfort. Now I suspect that is not the lesson you believe one should learn from that period; and will further review your post. As an additional aside, Arkansas (home of course to WJC) usury limits were 12% I recollect. If that is not accurate, suffice to say it was lower than the prevailing horrendous rates elsewhere. Further, their choice of law provisions had not been adequately tested for their efficacy. The effect of the foregoing was not surprising. A lot money flowed elsewhere. Thanks for your thoughts. Regards, Tundra

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