Monday, November 29, 2010

Horses Correlate with Bankruptcies

What do I keep telling you about horses?

I wonder if she tried to pledge them for collateral like one borrower I had the displeasure of underwriting for a while ago?

Understand people (but more importantly, BANKERS), if your client lists horses in the "assets" column of their balance sheet and NOT the liabilities section of the balance sheet, then you need to have those financial statements re-audited.

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