Understandably, the banker wanted to know a little something about Long-Term’s portfolio. J.M. asked Hilibrand to explain the swap position to Mendoza, but the wary Hilibrand refused. Almost in tears, Hilibrand spluttered that he couldn’t say a word about his precious portfolio. He had been so certain-he had borrowed so freely. Now his tightly ordered world was beginning to crack. Personal bankruptcy was not out of the question. The possibility that he had been so wrong was devastating.