The "Dodge"

The financial crisis was summed up in everyday terms by Canada's top banker as follows:

In banker-speak...

"Canadian third-party ABCP tends to include a clause that guarantees liquidity only in the event of a "general market disruption." Many, but not all, of the liquidity providers have declined to step in as this paper has come due, essentially saying that the continued operation of some parts of the commercial paper market indicates that there has not been a general market disruption."

In English now...

"The money lenders are right there when times are good but don't try to find them when times get tough".