3 ms·
a couple thousand dollars here and there might be fungible, but at some scale it's not true that money today is money tomorrow. there generally needs to exist s
by princeb 5y ago
a couple thousand dollars here and there might be fungible, but at some scale it's not true that money today is money tomorrow. there generally needs to exist some method of transforming money today into money tomorrow, through various mechanisms that are broadly called "carry", and there also exists the possibility that these mechanisms become momentarily unavailable.
additionally, the lenders to revlon took on both an expectation on money in the future and a non-zero default probability. maybe you can say it is fine for money in the future to be money in the present, making the layman assumption that the carry mechanism exists every single day from the date of accidental payment to the date of actual payment, but the lenders cannot also give up the non-zero default probability. that's their obligation in return for full future payment. but since payment and the obligation are inseparable, i personally see no difference between early payment with no obligation and shylock's taking of a pound of flesh and all the blood along with it.