Detailed text transcripts for TV channel - MSNBC - 20130112:13:49:00
Reports about this, the term sheets which are the legal document that outlines the terms of the trade had a space for the amount of hair cut that was going to be required. >> hair cut is a technical term which is when you discount the amount. if i have a bond on 100 cents on the dollar, you pay 80 cents on the dollar, you pay me 20 cents, that's the hair cut you pay me. >> goldman sachs was doing well at the time of the crisis. they bet hard against the securities. a partial hair cut on some of the things swront hurt them very much. >> that's the question. the geithner philosophy was kind of n...
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