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Tim Morge wrote:
<snip>
>I'll post more examples if anyone really finds this stuff interesting. When you
>start looking at letters of credit and derivatives and clearing risks that
>extend not to the party you lent to, but the third or fourth party down the
>chain, it's amazing how much 'risk' that can be generated rather quickly right
>in front of a bank's lending manager and the bank examiners.
>
>Again, I don't want to fill the list with off subject discussions.
Please keep 'em comming, the systemic meltdown issue is becoming
a subject of increasing interest for obvious reasons - being able to assess
the odds of being able to actually take the profits home once earned is very
relevant to a trading list in my opinion.
Hugh
[FWIW, I smell an ugly week about to unfold - plus a nice drop in the DOW
sure might work as a pre-emptive strike against any plans the Japanese may
have to start reflating immediately after Sept. 30th.]
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