| 22.09.2008 Other Voices: Capital adequacy, mark to market and leverage - US government debt levered too much could be more toxic than pool of defaulted, but unlevered assets |
| This article was authored by Shahriar Shahida, Chief Investment Officer at Constellation Capital Management LLC, New York. The pathology of almost every failed entity reveals one dominant culprit: excessive leverage. Contrary to popular perception, the quality of assets held by the entity is almost a secondary factor in its demise. A portfolio of perfectly safe US government debt levered too |
| Article source: http://www.constellationcapital.com - Opalesque is not responsible for the content of external internet sites |