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Alexandre Joly, the head of strategy, portfolios and market activities at Dexia, said in an interview that the idea of forcing Dexia’s trading partners to accept a discount on what they are owed “is a monstrous idea.”
That's pretty offensive, if you ask me, -the notion that realizing loses is 'monstrous'... What benefit is it to the taxpayer that a bank should be able to invest in derivatives? To the extent that it it to the taxpayers benefit, the taxpayer might be expected to cover some losses.