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.

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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.

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:


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: