Transference is not a word that brings to mind happy thoughts. We can all recall at least one psychological thriller built on the concept as it applies to people. But beyond the fictional realm of books and movies, transference applied to capital and credit can be even more frightening. The sequence begins quietly enough. A customer buys a new pressure washer from your company. A few months later, the customer's garage catches fire - cause unknown - and his house burns down. It's an expensive house with full replacement value insurance coverage. The owner is compensated quickly by his insurer. That's as happy an ending as is possible for the owner of the structure. Yet it's where the trouble for the manufacturer of the pressure washer may just begin.
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