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Template:Notification of default paradox: Difference between revisions
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Template:Notification of default paradox (view source)
Revision as of 14:42, 28 December 2023
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But this is a tree in a distant forest. You cannot hear it. No-one else is talking. You rely upon your counterparty to pass this information to you, on pain of that failure being itself an event of default. | But this is a tree in a distant forest. You cannot hear it. No-one else is talking. You rely upon your counterparty to pass this information to you, on pain of that failure being itself an event of default. | ||
Remember Bishop Berkeley. The actual information, that | Remember Bishop Berkeley. The actual information, that your customer has exceeded an arbitrary level of indebtedness that your credit department set for its own inscrutable reasons, matters, presumably, to your credit department, but not, in the particular, to your counterparty. It finds no call to articulate that fact. As far as the counterparty is concerned, no good can come of it. | ||