re: #182 engineer cat

yeah - but the total amount of the principal has never, as far as i know, gone down, so it’s a kind of ‘revolving’ credit pool i guess

Yes.

Which is why it’s better to compare us to business than to a family, because businesses have this accounting line for long term liabilities. If you don’t break them down they look like one loan that goes on forever - the principle. If you get into the full audit you see each loan gets paid off on time.

Of course if you go into that mode you have to start accurately determining assets, and you have to account for the money you left on the table (discounts/tax breaks), and all that sort of thing that makes it look better.