Pakistan must refuse foreign debt repayments, divert amount for relief & rehabilitation of flood-hit communities
Updated: 2010-08-31 22:40:31
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There just isn’t anything more for banks to do, except clip the threadbare coupons on leftover structured product (which already is too rich). They can’t make business loans, they can’t write mortgages, and now they can’t even play the carry trade in Treasuries.
In the midst of the biggest Treasury rally in a long time, banks [...]