RE: In finance, debt and leverage are considered synonymous. No noble prize required.
True except that leverage was a previlage granted to goverment approved banks, on the understanding that 8-10X was more than enough leverage and the they should be happy making 3-5%. In Canada a Chartered bank basically has a liecence to to print money but the amount of leverage is strictly controlled and the understanding is 3-5% is enough.
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