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Politics : Ask Michael Burke

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To: Tommaso who wrote (37755)	11/29/1998 3:36:00 PM
From: accountclosed	Read Replies (1) of 132070

Tomasso, your posts are interesting, enjoyable reading. I just read this one and your post Message 6601431 . Very high up your list is paying off debt, which I agree with. However, few of us can just as an act of will payoff a mortgage for example. We may be able to shift out of some financial assets and use the proceeds to pay debt. My question is what other strategies of restructuring debt do you see as productive for the average person? For example, demand notes might be the worst to hold. In a crisis, a bank might make their demand. On the other hand, mortgages generally do not have call provisions, nor do they have material financial changes provisions. It seems to me also that having all of one's debt at one institution makes one excessively vulnerable. Multiple borrowing relationships both reduce the size at each institution and also diversify the risk of one bank's policies during a crisis hurting.

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