After Cameron accidentally causes the death of a stunt man, Cross guarantees his safety in exchange for him replacing the deceased.
For investors that own several banks, the agency would require cross guarantees in which a strong bank owned by an investment group could be enlisted to shore up the capital of a weaker bank owned by the same group.
Since the 1970s, organisations, such as the Grameen Bank in Bangladesh and Accion International in Latin America, have encouraged poor borrowers to form groups to cross-guarantee each other's loans.
The idea of a fund through which euro zone countries would effectively cross-guarantee one another's deposits was always going to make Germany and other northern Europe countries queasy, as it could force them to bail out a string of shaky, highly indebted banking systems to the south.
The new rules against cross-guarantees and cross-shareholdings will be hard to enforce.
All the chaebol say they have already unwound cross-guarantees among their affiliates.
Surely, if the proposal is adopted, any creditor with leverage would require guarantees of subsidiaries, and cross-guarantees could become standard operating procedure.
Once the crisis struck, the cross-guarantees caused the trouble to spread rapidly across the economy.That was what hurt Kia.
In the rules outlined on Thursday, private equity firms that own more than one bank would have to provide "cross-guarantees," under which they would use capital from a healthier bank to shore up a weaker one.
It has imposed stricter reporting standards for company accounts, banned cross-guarantees, which must be eliminated by March 2000, and stipulated that the ratio of debt to equity must fall below 200% by the end of this year.
Though the loan is guaranteed by the German government, nearly always it must also be cross-guaranteed by the National Bank of Poland just the sort of soft option for enterprises that Eastern Europe must avoid.Surely the West can do better than this in the 1990s.
