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The HoLee model was the first term structure model. I remember reading their paper soon after it was published and as it was fairly different from many of the other papers that I had read, I had to read it quite a few times. I realized that it was a really important paper. ↗
There were two mentalities, and both mentalities had to change. There was what I called the Afrikaner mind set of the Unionist politicians, which was holding all power in their own hands, and discriminating, and their objective was to protect their identity. ↗
#called #change #discriminating #had #hands
