Monday, Jan 14, 2008
More debt to crash with houseprices
FT: Not merely a subprime crisis; CDS and “global financial meltdown”
"If this had been a mere subprime crisis, it would now be over. But it is not, and nor will it be over soon. The reason is that several other pockets of the credit market are also vulnerable."
Serial bubbles and manipulation means all forms of debt are now dangerous and primed to go bust. The longest run of economic growth here and elsewhere were built on debt, including corporate debt. CDS (credit default swaps) will be in trouble with an economic slowdown.
Posted by happyrenterz @ 01:36 PM (346 views) Add Comment
1 Comment
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1. Stoatgobbler said...
...or they won't 1.25 of the CDS market being called sounds like a big number, but 98.75% of the market continuing to pay premiums is a far bigger one.