Title: David Irving is back in action! Source:
David Irving's daily newsletter URL Source:http://www.fpp.co.uk/online/index.html Published:Dec 27, 2006 Author:David Irving Post Date:2006-12-27 12:19:39 by bluegrass Ping List:*New History* Keywords:None Views:327 Comments:9
His always informative Action Report Online is back up and running after over a year of silence.
While increased use of derivatives like collateralized debt obligations demonstrably do decrease the frequency of minor adverse credit events, they probably increase systemic risks.
It's like with earthquakes. As faults age, you see fewer small quakes, and more really, really big ones. Older fault lines have fewer rough edges and asperities, and mate really well.