An institution that borrows on a non-prioritized basis would never contemplate borrowing on a prioritized basis. Doing so would undermine its standing in the bond market and suggest that it is not worthy of its strong credit rating. This type of self-imposed downgrade would materially affect its financial prospects.

What was once a fringe idea - finding a way to use the record levels of overseas capital to finance new projects in the United States - is now mainstream. The support is there; we just have to work out the details.

The United States has the world's largest and most innovative economy, an unmatched rule of law, and a free market that is the envy of the international community. For investors, we are the reserve currency.

John Delaney Quotes