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Thursday, April 26, 2007 3:50:45 PM
The only way Cornell will continue to pay NEOM executive's salaries is if they are provided a liquid market into which they can hedge their positions (i.e. short against the box).
No liquidity means Cornell's risks increase dramatically - which likely will mean the spigot is turned off for NEOM or Cornell demands even more "vig" in the form of even higher rates and warrant sweeteners.
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