Monday, August 27, 2007

If you want to be scared about subprime...

Read this:

The story I heard from a bond trader is that the Chinese were willing to buy paper at very low spreads just to keep the RMB from appreciating. I have no idea whether this is really true, but it makes for a good story.

1 comment:

davelindahl said...

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This saves you a great deal of money in the long run, because you do not give up 20% of the profit and 20% of the equity!