Sunday, Nov 18, 2007
A tour de-force of current financial issues
The Oil Drum: Canada: The Finance Round-Up: November 16th 2007
Oil people are interested in this because it impacts upon oil prices. It is all just as relevant for the study of house prices and the soundness of the economy in general. The headline article says the following: According to Gregory Peters, head of credit strategy at Morgan Stanley:
There's a greater than 50 percent probability that the financial system will come to a grinding halt. You have the SIVs, you have the conduits, you have the money-market funds, you have future losses still in the dealer's balance sheet in the banks [..] That's all toppling at once.
Enjoy!
Posted by planning4acrash @ 09:40 AM (328 views) Add Comment
3 Comments
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1. alan said...
The Oil Drum finance round-up is worth a second reading. This article summarises a number of posts made here over the last few days (including mine).
Grading of bonds has been one of the biggest issues to come out of the sub-prime catastrophe. Downward regrading will cost a lot people a lot of money.
2. Icarus said...
Makes your head spin. Imagine if all that effort went into engineering instead of financial engineering.
3. Str2007 said...
So much bear food, I feel like Mr Creosote - kerspat!