Monthly Archive for: ‘January, 2007’

Interest rate swaps

“If you’re in a poker game and you don’t know who the patsy is, you’re the patsy”.  Warren Buffet Today’s Bloomberg:   The Reading, Pennsylvania school district must pay $230,000 to Deutsche Bank because it is on the losing side of a wager on long-term interest rates. Excerpts from the article: “It was all done in [...]