[lbo-talk] frontiers of financial innovation

Doug Henwood dhenwood at panix.com
Wed Jan 19 11:51:37 PST 2005


Jordan Hayes wrote:


>An equity investment is NOTHING like buying a house.

Lesse, borrow money at floating rates to buy a house that you can only afford if rates stay low and the price appreciates ("Ponzi finance," in Minsky's terminology). Nah, nothing alike at all - a stock is actually a claim to productive resources in some cases!

Doug



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