In the “Now I’ve Seen Everything” category, Wall Street has come up with a positive spin for bond losses.
This is how it works: I issue $100 billion worth of bonds. Later, because of the credit crisis or because others fear I can’t pay off the bonds, the value of the bonds sinks to $80 billion. [...]
Continue reading " Wall Street New Math for Bonds -2 + -2 = 4 "
