Welcome to the - Bank of Cisco

It now appears that Cisco CEO John Chambers has missed the opportunity to become Treasury Secretary in a John McCain administration, nevertheless, Chambers can take solace in his current "gig" as Treasury Czar to Cisco networking partners and customers the world over. Welcome to the - Bank of Cisco

According to Cisco's 2008 Annual Report to shareholders:

Additionally, the Cisco lease receivables below represent sales-type and direct-financing leases. It is interesting to note that Cisco lease receivables increased by 52.5% on a net sales increase of only 13.2%

Source: Cisco Form 10-K Filings with the U.S. Securities and Exchange Commission. The Cisco financed service contracts below are primarily related to technical support services and these increased 54.5% on an 18% increase in net service revenue.

Source: Cisco Form 10-K Filings with the U.S. Securities and Exchange Commission. Although it's related to product revenue, Cisco does not "define" its loan receivables which increased a whopping 77.4% on a mere 13.2% increase in net sales.

Source: Cisco Form 10-K Filings with the U.S. Securities and Exchange Commission. Finally, Cisco has entered into foreign exchange forward contracts with maturities of up to two years related to long-term customer financings.

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Is it possible that with the credit crunch crisis, Cisco's competitors will meet their "Waterloo" at the hands of the new and growing - Bank of Cisco

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