Quote:
Originally Posted by Ian Meyers
In my corporate career, I was an asset securitization (a way to move/fund assets off of a company's balance sheet) specialist for money center banks and investment banks. When counseling senior treasury execs about the pros/cons I'd point out that once you start securitization you can't stop because the (accounting) gains you recognize up front turn into losses as the bonds pay down. I believe CAW is similar. Racing got hooked on the gains (as a way to stabilize falling handle) and now can't quit it because handle would fall to $6 billion.
And I use my real name because I'm not afraid to. I never hide behind fake names. Ever. I'm not saying that's always been wise but I'm not afraid to say something and have everyone know I said it.
|
I think this is it in a nutshell. Racing did everything it could to stem the tide of declining handle. What is the saying, something about digging a grave and having to lie in it?
Ian is as stand up a guy as you will find in the industry IMO.
