John Pierpont Morgan, patriarch of the banking dynasty, famously asserted that credit was based on trust. Knowing whom he was lending to was more important than either cash or property collateral, he explained to Congress in 1912. In today’s commercial relationships, trust still denotes an expectation of behavior that is the foundation for commercial credit.


Credit Risk Credit Default Swap Intangible Asset Corporate Reputation Credit Spread 
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© Nir Kossovsky 2012

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  • Nir Kossovsky

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