Financial accounting, ca. 2008

Passed on from a colleague.....

There are two sides of the balance sheet: the left side and the right side.

On the left side, there is nothing right...

And on the right side, there is nothing left.

Easy!
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lccheh
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April 11, 2008 at 9:49 AM ×

Hey MM,
Since the credit market turmoil began, i hadn't yet felt any impact (i dont own a house, invest in equities or fixed income, nor do i perform LBOs with my meagre salary.) Anyway, it finally hit me. last week I wanted an unsecured personal loan from natwest and i received a quote for 7.1% on 25k. (I was just curious to see what I could get really). Yesterday, the same loan was 8.9% and BOE rates were cut by 25bps. That's a hell of a tightening! 1.8% in a week! I wonder what credit card APR's look like.... Might be interesting to measure the changes in the price of bank loans, afterall private consumption is the main driver of most economies.

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Anonymous
admin
April 11, 2008 at 1:05 PM ×

Your colleague probably stole that line from someone in this clip (who stole it from someone else) which I watched yesterday:

mms://media2.bloomberg.com/cache/vlI.pVDtxcwc.asf

That clip runs an hour six minutes, but you still might find it worth watching.

"Members of Bloomberg's Asia-Pacific advisory board participate in a panel discussion in Sydney about the outlook for Asia's financial markets."

The panelists include Eisuke Sakakibar (Mr. Yen) who forecasts a fall in the Euro versus the yen.

Full description here:

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aXFG.dLYoUC8

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