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You mean like the IOU slips I keep for friends? Or the ratings given by rating agencies or the keepwell and equity repurchase undertakings from China SOEs for offshore bond issues..
Ie fubar+snafu. Just another ordinary day :p
😄
You mean like the IOU slips I keep for friends? Or the ratings given by rating agencies or the keepwell and equity repurchase undertakings from China SOEs for offshore bond issues..
Ie fubar+snafu. Just another ordinary day :p
Banks' appetites for risky behavior is driven by bonusses and stock options. As long as that "reward system" is not changed, banks will continue to run into problems.
To be fair plain stupidity is all that is required for banks to run into problems, the incentive for riskiness is just a kicker and I can imagine removing it won’t solve this sort of problem as much as imagined. The moral hazard of repeated bailouts on the other hand…
Same with insuring houses on earthquake faultlines and medical insurance, we are always told this is good for society, but I really wonder if subsidising poor choices and goosing medical inflation is really such a wonderful thing.
emptied a few thousand sqft of office space in ICC
https://geoexpat.com/forum/84/thread...ml#post3905426
https://finance.yahoo.com/news/30-jo...073608561.html
The bank created by the UBS takeover of Credit Suisse is poised to reduce its workforce by 20-30%, Swiss daily Tages-Anzeiger reported on Sunday, citing an unn...