If we hit triple-C in the world credit market, then the whole world would be in trouble, not just us.
There are a lot of people with a large vested interest in keeping the current status quo working...
Cheers, Ben
"Career politicians are inherently untrustworthy; if it spends its life buzzing around the outhouse, it\ufffds probably a fly." - [link|http://www.nationalinterest.org/issues/58/Mead.html|Walter Mead]
Pure mathematics, that is. If it smelled liked an application (and I do mean smelled) I avoided it like the plague.
Hence, I did not have "corporate finance" books in my curriculum. I'm just a poor old dumb North Carolina boy who was taught that a "debt" was something that you eventually paid back. Or else you declared bankruptcy, which is akin to conceding that you failed. ;-)
But when you have lots of collateral...you can take out alot...and you can stagger it so as to have alot out all the time. And when you're a business there are people who calculate the "correct" amount of debt for you to carry.
Methinks you know these things already ;-)
You were born...and so you're free...so Happy Birthday! Laurie Anderson