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Forcing them to put their money in equity would, however, make the system fail not-catastrophically once the Ponzi equity pricing collapsed.

If you buy a firm's bonds, and the firm turns out to be worth only three quarters of what it used to be worth, then it sucks for both you and the firm. If you buy a firm's stock and the firm turns out to be worth only three quarters of what it used to be worth, then it only sucks for you.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Tue Aug 28th, 2012 at 11:16:55 AM EST
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