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Cheng


Total Posts: 2814
Joined: Feb 2005
 
Posted: 2017-06-08 10:14
You mean because the equity is toast and the CoCos triggers looooooooong afterwards?

"He's man, he's a kid / Wanna bang with you / Headbanging man" (Grave Digger, Headbanging Man)

Martinghoul


Total Posts: 847
Joined: Oct 2008
 
Posted: 2017-06-08 11:16
Not so much that...

I mean I could be barking up the wrong tree here entirely, but isn't the idea behind the CoCo, at least in theory, that it is supposed to at least "smooth" the ride to insolvency? In some cases, maybe even reduce the probability of insolvency by potentially reversing the capital ratio decline?

Doesn't the idea that your relevant ratio is fine one moment and the next you're "resolved" to 0 (or 1 euro in this particular case) by the regulator sorta make a mockery of it? And if it's not the ratios but something else that arbitrarily triggers the conversion, doesn't it just create total uncertainty?

Again, I admit to being a total tourist in this, so excuse my ignorance pls...

Insofar as I may be heard by anything, which may or may not care what I say, I ask, if it matters, that you be forgiven for anything you may have done or failed to do which requires forgiveness...

Cheng


Total Posts: 2814
Joined: Feb 2005
 
Posted: 2017-06-08 16:16
Truth is in the eye of the beholder. I mean, this ride was smooth during the last days, although the (slippery) slope was maybe a little steep... Wink But I fully agree, theory would have predicted a less digital outcome.


"He's man, he's a kid / Wanna bang with you / Headbanging man" (Grave Digger, Headbanging Man)

NeroTulip


Total Posts: 995
Joined: May 2004
 
Posted: 2017-06-09 09:34
There were some interesting comments on Money Stuff and Money Stuff, in case you missed it

"Earth: some bacteria and basic life forms, no sign of intelligent life" (Message from a type III civilization probe sent to the solar system circa 2016)

Cheng


Total Posts: 2814
Joined: Feb 2005
 
Posted: 2017-06-11 11:29
void Threadjack()

{

Martinghoul, have you been active at TMM's (v2.0) place lately? I think I saw your nick over there.

}

"He's man, he's a kid / Wanna bang with you / Headbanging man" (Grave Digger, Headbanging Man)

Martinghoul


Total Posts: 847
Joined: Oct 2008
 
Posted: 2017-06-11 13:32
{
I haven't been active in the authoring aspect of it for a very long time...

I do leave comments occasionally and, indeed, I did recently.
}

Insofar as I may be heard by anything, which may or may not care what I say, I ask, if it matters, that you be forgiven for anything you may have done or failed to do which requires forgiveness...
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