Quotes from the Wise : Week ending November 30th

'A rolling loan gathers no loss.' - Joshua Rosner

'Maybe,just maybe,blanket guarantees from governments dilute the nature of a guarantee.' - John Jansen

'JP Morgan (with a credit derivatives book of 9.2 trillion) is on one side or another of one out of every six contracts ...It has counterparty risk on the contracts it has bought, even with collateral and faces losses on the contracts it has sold.' - Henny Sender

'There's going to be a lot of information that is not public (about the bailouts & facilities) and it is going to take investigative reporters to find out things that congressman can't find out and the public is not going to be aware of' - Representative Brad Sherman