Rob Schaap rws at
Thu Aug 26 23:31:27 PDT 1999

G'day Max,

>I predict that in about three weeks, a certain Brit named Mark Jones
>experience some modest pangs of embarrassment. The first person who
>can remember why will be awarded some of the spoils of war, assuming
>Cmde. Jones is a honorable man and there are some spoils to be had.

Mark wasn't as mad as you made out at the time (though he can do madness pretty damned well when he's in the mood - eg. he went a bit - okay, spectacularly - silly on the matter of Albanian Kosovars). After all, if he lost, he'd be servicing his debt from a fund worth at least three times (on projected market values, anyway) what yours would be if you'd lost - in that light, you were effectively handing him odds of 3-1. Anyway, Mark would suggest you not count your chooks quite yet. If South America is really quick in its inexorable decline (say, Ecuador defaults and Argentina's currency tanks), and if China devalues really soon, and if Yeltzin dies in time to allow his replacements to default too (bearing in mind that any one of these might bring the other two on) - well, Mark might yet win, eh?

Mind you, now that I write this, I do realise 3-1 weren't particularly generous odds. Clever Max.

Cheers, Rob.

More information about the lbo-talk mailing list