Something for the weekend, sir?: Difference between revisions

Something for the weekend, sir? (view source)

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 ==How do you find the time bombs in your balance sheet==
-The JC found to his surprise and delight that his big sister reads the newsletter — normally no-one in the Contrarian clan pays him the blindest bit of attention (in this regard they are like everyone else) — and after his peroration about alternative tier one this week she had a question: does ''anyone'' understand the banking system?
+The JC found to his surprise and delight that his big sister reads the newsletter — normally no-one in the Contrarian clan pays him the blindest bit of attention — and after his peroration about alternative tier one capital this week she had a question: does ''anyone'' understand the banking system?
-It’s a good question. The level of supercilious bank analyst Twitter shade-throwing — and central banker shade-throwing, for that matter — suggests weak opinions strongly held. And the financial system’s track record in the 30 odd years the JC has been involved with suggests we masters of the universe are not the lesson learning kind.
+It’s a good question. The level of bank analyst Twitter shade-throwing — and central banker Twitter shade-throwing, for that matter — speaks to weak opinions strongly held.
-For a while in the same period the incidence of air accident fatalities has consistently declined, the incidence of banking smartphones seems to be continuous.
+Is it — maybe, that no-one really knows? That it is this giant organic contraption that does what it will — for that is the whole of the law — and the those who rise to executive position do so by fiat and have as much understanding and control over these infernal machines as a chimpanzee strapped to a rocket?
+Did the quick succession if chief executives at Credit Suisse really have a clue what was buried in their balance sheet as the successive horrors revealed themselves?
+Sidney Dekker’ {{fieldguide}}
 The question has particular urgency for the the executive suite at UBS. who has just taken on the assets and liabilities of Credit Suisse. While they appear on their face to have bagged the steal of the century, Credit Suisse is proven capability of sustaining and think of glee large losses in a short period must have giving them paws for thought. For who is to say that is not another 10 billion dollar loss buried somewhere in that balance sheet?