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... its a lemons problem. Banks have an incentive to use the assets with the worst likely future performance that they can get away with, so they hold onto the best income potential of their current balance sheet.

So its up to the government to ensure that the minimum accepted quality is an acceptable quality.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Thu Oct 9th, 2008 at 07:12:22 AM EST
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