Derivatives: “You Cannot Hedge Debt Risk By Owning More Debt”

Us bumpkins out here in the unwashed masses (read: those of us who don't hold PhD's in economics and work for a central bank) might think that "Neither a borrower nor a lender be" are words to live by. But boy, lemme tell ya, them folks with them there high-falutin' edumacations have got it all [...]