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I'm backing another commenter who says the rule for permitting a particular investment should be simple: If the regulator doesn't understand it, it doesn't fly.

Also, if an untrained intern has difficulty understanding the asset, it shouldn't qualify as collateral at the discount window.

- Migeru

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Mar 12th, 2012 at 03:30:27 AM EST
I like Mig's better.  Safer and funny.

Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Mon Mar 12th, 2012 at 07:43:38 AM EST
[ Parent ]
It ought to be accompanied by a cartoon.

Untrained intern = bank teller, discount window = teller's station, a banker is presenting an unidentifiable object as collateral.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Mon Mar 12th, 2012 at 09:12:12 AM EST
[ Parent ]
I have a cartoon from the mid-90s - it show a guy in striped suit, poorly shaven (i.e. fairly obviously a shady character) being interviewed for an unspecified job and the guy's saying "I was an intern at the Crédit Lyonnais"

Wind power
by Jerome a Paris (etg@eurotrib.com) on Mon Mar 12th, 2012 at 05:47:48 PM EST
[ Parent ]
But then how are you supposed to get a drive-through loan?
by rifek on Mon Mar 12th, 2012 at 06:27:43 PM EST
[ Parent ]

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