May 02, 2007
New Month, Old Tradition - May 2007 Edition
The usual open post.
Sadly I remain insanely busy, and tomorrow I fly into djzair l-beida. Not enthusiastic about that. Then I get to hop back to the other Beida, which is more normal, before fucking off to sub-Saharan lands. In between I have to get some bloody scans for a funny little impingement on the spinal cord that has rendered me left hand entirely numb. Annoying that. Feels weird.
So, there we are. I have a draft item on follow up to Maghreb Bombs in works, maybe when I am sur place in djzair l-beida I will follow up, if the meets go well.
Meanwhile, busy working on idiotically leveraged things that illustrate, if nothing else, that lender perception of credit risk is... well, utterly without reason. That I believe that I can close a deal with a personal equity particip (I mean personal, not firm) of miniscule amounts, and with quasi-equity layering some 70x ... well, all I can think of is "moral hazard." But it's not my job to tell the lender that he's a fucking moron.
Posted by The Lounsbury at May 2, 2007 09:11 PM
Filed Under: Blog Notes - Admin
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I want you to give me the data of that lender. He and I can be very good friends.
Ah, no, the story is risk diversification. Plus a silly belief in sov. guarantees. Never will understand why Western finance people fall for that game, but it's not my problem if they're stupid.
Posted by: The Lounsbury at May 3, 2007 08:43 PM