[lbo-talk] frontiers of financial innovation

Jordan Hayes jmhayes at j-o-r-d-a-n.com
Wed Jan 19 12:37:16 PST 2005


Doug writes:


> 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).

I don't know where you got your bad attitude about home ownership, but it's downright un-American :-)

I think this is a vast mischaracterization of this product.

/jordan



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