On Sat, 2003-02-08 at 22:58, David P James wrote: > Ron Johnson wrote: > > On Sat, 2003-02-08 at 15:12, David P James wrote: > > > >>Ron Johnson wrote: > >> > >>>On Sat, 2003-02-08 at 12:18, David P James wrote: [snip] > Contraire is correct :)
Thanks. > That's true in one sense but not in others. It's true for a bond only if > the issuer fails to meet their obligations. But if they do meet their > obligations then you can't just take your bond back to the corporation > that issued it and demand it be redeemed before it matures nor can you > in most cases sell your stock back to the corporation. So it really > depends on your point of view as to whether unredeemable assets are > "backed" by anything. You are confusing "secured" & "liquid". Corporate bonds are secured (by that factory), and partially liquid (since,as you say, I can't arbitrarily go back to the company to redeem them, but I can quite easily sell them on the open market). -- +------------------------------------------------------------+ | Ron Johnson, Jr. Home: [EMAIL PROTECTED] | | Jefferson, LA USA http://members.cox.net/ ron.l.johnson | | | | "For me and windows it became a matter of easy to start | | with, and becoming increasingly difficult to be produc- | | tive as time went on, and if something went wrong very | | difficult to fix, compared to linux's large over head | | setting up and learning the system with ease of use and | | the increase in productivity becoming larger the longer I | | use the system." | | Rohan Nicholls , The Netherlands | +------------------------------------------------------------+ -- To UNSUBSCRIBE, email to [EMAIL PROTECTED] with a subject of "unsubscribe". Trouble? Contact [EMAIL PROTECTED]
