Comments on: Credit Default Prices Up Sharply on MBIA Losses, Planned S&P Ratings Actions http://www.nakedcapitalism.com/2008/01/credit-default-prices-up-sharply-on.html Mon, 23 Nov 2009 00:58:00 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Anonymous http://www.nakedcapitalism.com/2008/01/credit-default-prices-up-sharply-on.html#comment-3584 Anonymous Thu, 31 Jan 2008 17:05:00 +0000 http://www.nakedcapitalism.com/2008/01/credit-default-prices-up-sharply-on-mbia-losses-planned-sp-ratings-actions/#comment-3584 The answer to "where are the rest of the losses?" just might be "scattered among non-financial companies".<br/><br/>Bristol-Myers Squibb, for instance, <a HREF="http://www.bloomberg.com/apps/news?pid=20601087&sid=ahLd5EqKzmy0&refer=home" REL="nofollow">reported subprime-related losses</a>. The answer to “where are the rest of the losses?” just might be “scattered among non-financial companies”.

Bristol-Myers Squibb, for instance, reported subprime-related losses.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/01/credit-default-prices-up-sharply-on.html#comment-3582 Anonymous Thu, 31 Jan 2008 16:22:00 +0000 http://www.nakedcapitalism.com/2008/01/credit-default-prices-up-sharply-on-mbia-losses-planned-sp-ratings-actions/#comment-3582 I hear what you're saying, but ...<br/><br/>If insurers' liabilities and collateral calls are a function of pricing of insured securities, and pricing of insured securities is a function of prevailing S&P ratings, I would have that the actual risk of default by insurers had increased, albeit marginally, but meaningfully. I hear what you’re saying, but …

If insurers’ liabilities and collateral calls are a function of pricing of insured securities, and pricing of insured securities is a function of prevailing S&P ratings, I would have that the actual risk of default by insurers had increased, albeit marginally, but meaningfully.

]]>