I'm a huge fan of the equity stake....
Problem is, they are trying to create a liquid market for them, and If a Financial institution needs to give up equity to participate. It will reduce liquidity, in that market.
Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
J. P. Morgan
Tuesday, September 23, 2008
They are right about the equity stake
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