dead cat bounce!, page-32

I would think that chances of VA are unlikely or tend to 0. In this environment banks are becoming collaborative without losing their focus on debt recovery and making profits. For better or for worst they have no choice, otherwise they would be managing any company or person with some debt exposure and that’s not their business. We have a couple of good examples of that CNP and BNB with different strategies of D2E and pseudo administration. Bad examples ABC and AFG and going overseas we have our killer experiment Lehman.
When the crisis hits as hard as it is hitting, absolutely everyone wants everyone else to survive. That generates some confidence and breaks the dead spiral we’re in. I’m not saying this is going to be back in $1 today or tomorrow, but give it a couple of years. Something I have learnt over the years: (1) crisis doesn’t last forever, (2) crisis open opportunity windows for risk/reward seekers, (3) crisis move wealth with an illusion of destruction and (4) cycles are demonstrated (we’re only humans).