Comments on: Credit Default Swaps Outstanding Shrinks as Dealers Tear Up Agreements http://www.nakedcapitalism.com/2008/09/credit-default-swaps-outstanding.html Mon, 23 Nov 2009 13:08:50 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Matthew Dubuque http://www.nakedcapitalism.com/2008/09/credit-default-swaps-outstanding.html#comment-17223 Matthew Dubuque Thu, 25 Sep 2008 13:35:00 +0000 http://www.nakedcapitalism.com/2008/09/credit-default-swaps-outstanding-shrinks-as-dealers-tear-up-agreements/#comment-17223 Matthew Dubuque<br/><br/>This is a direct result of Gerald Corrigan's heroic work at the Financial Stability Forum, in behalf of the Federal Reserve, begun last year.<br/><br/>Matthew Dubuque<br/>mdubuque@yahoo.com Matthew Dubuque

This is a direct result of Gerald Corrigan’s heroic work at the Financial Stability Forum, in behalf of the Federal Reserve, begun last year.

Matthew Dubuque
mdubuque@yahoo.com

]]> By: Richard Kline http://www.nakedcapitalism.com/2008/09/credit-default-swaps-outstanding.html#comment-17179 Richard Kline Thu, 25 Sep 2008 09:20:00 +0000 http://www.nakedcapitalism.com/2008/09/credit-default-swaps-outstanding-shrinks-as-dealers-tear-up-agreements/#comment-17179 Yah know, the CDS writers just may be the only guys in the financial economy to 'get it,' that we are inside the event horizon of a colossal deleveraging, and that those caught holding exposures rather than treasure will die. 'Course BSC and AIG were among the first Big Boys to croak, so the CDS guys are six months out in front of the rest on this. _This_ action, undertaken by private parties to delever, is far more substantive than the delusional and hypererrosive Paulson Proposal. <br/><br/>So a word to the wise: dump your over-levered exposure by any means necessary, it's gonna blow yer head off when it goes critical. (And that's just why all the banksters want the Guvmint to buy _their_ exposure.) Yah know, the CDS writers just may be the only guys in the financial economy to ‘get it,’ that we are inside the event horizon of a colossal deleveraging, and that those caught holding exposures rather than treasure will die. ‘Course BSC and AIG were among the first Big Boys to croak, so the CDS guys are six months out in front of the rest on this. _This_ action, undertaken by private parties to delever, is far more substantive than the delusional and hypererrosive Paulson Proposal.

So a word to the wise: dump your over-levered exposure by any means necessary, it’s gonna blow yer head off when it goes critical. (And that’s just why all the banksters want the Guvmint to buy _their_ exposure.)

]]> By: Mike http://www.nakedcapitalism.com/2008/09/credit-default-swaps-outstanding.html#comment-17146 Mike Thu, 25 Sep 2008 05:26:00 +0000 http://www.nakedcapitalism.com/2008/09/credit-default-swaps-outstanding-shrinks-as-dealers-tear-up-agreements/#comment-17146 I can't believe, given everything that's gone on in the credit markets over the last year, that banks are still WRITING these contracts!!! These people clearly don't have any sense of self-preservation, and clearly do NOT deserve to be bailed out by my/out tax dollars. This market should be shut down immediately, as it presents too large a risk to the sovereignty of this country without adequate regulation and clearing structures.<br/><br/>Mike I can’t believe, given everything that’s gone on in the credit markets over the last year, that banks are still WRITING these contracts!!! These people clearly don’t have any sense of self-preservation, and clearly do NOT deserve to be bailed out by my/out tax dollars. This market should be shut down immediately, as it presents too large a risk to the sovereignty of this country without adequate regulation and clearing structures.

Mike

]]> By: Lewis B. Sckolnick http://www.nakedcapitalism.com/2008/09/credit-default-swaps-outstanding.html#comment-17134 Lewis B. Sckolnick Thu, 25 Sep 2008 04:03:00 +0000 http://www.nakedcapitalism.com/2008/09/credit-default-swaps-outstanding-shrinks-as-dealers-tear-up-agreements/#comment-17134 One has to wonder if the dealers are not aided by the destruction of credit-default swaps. One has to wonder if the dealers are not aided by the destruction of credit-default swaps.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/09/credit-default-swaps-outstanding.html#comment-17118 Anonymous Thu, 25 Sep 2008 02:38:00 +0000 http://www.nakedcapitalism.com/2008/09/credit-default-swaps-outstanding-shrinks-as-dealers-tear-up-agreements/#comment-17118 http://www.reuters.com/article/newsOne/idUSTRE48O0E620080925<br/><br/>Lawmakers set to draft final bailout bill: source<br/><br/>U.S. congressional Democrats and Republicans plan to meet on Thursday to draft a final bipartisan Wall Street bailout bill, a Democratic source said on Wednesday night. http://www.reuters.com/article/newsOne/idUSTRE48O0E620080925

Lawmakers set to draft final bailout bill: source

U.S. congressional Democrats and Republicans plan to meet on Thursday to draft a final bipartisan Wall Street bailout bill, a Democratic source said on Wednesday night.

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