Friday, December 19, 2003

Christmas message

Okay, this is corny as (not to mention a bit early). But someone requested a "Christmas" post and I'm pressed for time at the moment (the irony being that the 'other half' has to have its hols before Christmas - the "top paddock" is actually Wilson's Prom, where I'm off again tomorrow for a couple of days. Beaches and granite tors - as good as it gets, in my book.

Anyway, here's the message:

On debt and forgiveness

There is one thing worse than the "moral hazard" involved in "forgiving" a debt.
That is the mindset of never being able to forget (nor hence, to forgive) a "doubtful" debt.

Accordingly, I propose a new expression for clinging-on way too tightly:

"He clung on like a mafia bank to a bad debt".

And a Merry Christmas to all of ye, especially Japan's banks.

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