Still lower than if they’d kept this stuff on balance sheet…

What you need for it to go wrong quickly is lots of lovely leverage.

Quick reminder that credit usually takes much longer to go wrong than you might expect. Much capital has been raised in the past to exploit a burgeoning distressed opportunity/maturity wall/liquidity cliff which ended up being deployed into less exciting stuff because waiting is expensive.

I enjoy “I took an ambulance” being used in the way the rest of us take a cab.

Comic of the beetle from the cover of Massive Attack's "Mezzanine" meeting the crab from the cover of The Prodigy's "Fat of the Land".

Hi this joke is for me

How is your opiate tolerance? My dad passed a cheerful two days in an Escher painting in hospital until they realised he was hyper sensitive to morphine.

While I do love an egg, hearing that a friend’s partner regularly eats 7 for breakfast, and has previously eaten 16 in one day, made me somewhat queasy.

Also give me a shout if I can help on the non-profit side.

Congrats. Are you the sole counterparty for private credit default swaps?

Or..

bsky.app/profile/fohf...

I believe they are quite big in continental Europe and are a bit more social than plodding round on your own.

Parkrun, apparently.

Older teen particularly scathing about teachers being unaware how kids are using it to create assignments and how screwed those kids are when they get to in-person exams, having not written a single essay themselves.

This in response to me mentioning using Claude for something at work.

Per the teens 1) destroys creativity 2) hurts artists (broadly defined) by ignoring copyright 3) generates “boring, obvious” output 4) results in stupid people.

Even less popular with the under 18s I suspect. AI now being used as an insult.

Same, dude.

Unconscious bias training. Turned out my (not very un) conscious bias was against posh people.

He never fancied you anyway.

A residential area? For the Crown, maybe.

The Vengabus is coming
And everybody's jumping
New York to San Francisco
An intercity disco

Tank fly boss walk jam nitty gritty. Turn your wife into salt and lay waste to a city. This is bad, Lot.

Pope is giving…

That’s my earworm for the day.

🎶 Papal reign, paaaapal reign 🎶

For a catholic Vance seems very unaware of papal infallibility

Apparently the Pope may not be catholic.

Bears anxiously looking around for a bathroom.

Very clean tackle too.

Brave brave man.