The Masked Tulip Posted March 3, 2008 Share Posted March 3, 2008 After the pull-back from rescuing the monoline insurers last week have there been any developments since? Surely the markets are going to just tank until this gets sorted? Quote Link to comment Share on other sites More sharing options...
Dr House Posted March 3, 2008 Share Posted March 3, 2008 After the pull-back from rescuing the monoline insurers last week have there been any developments since? Surely the markets are going to just tank until this gets sorted? Yes I think this is the key question of the week. From CNBC on Friday it looks like a massive road-block kas been encountered - and the Americans were as usual trying to schmooze it over on the report. However, if it does collapse we can expect that Black $$Day some time very, very soon. Quote Link to comment Share on other sites More sharing options...
gfromls Posted March 3, 2008 Share Posted March 3, 2008 Warren Buffett has withdrawn his offer. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted March 3, 2008 Author Share Posted March 3, 2008 Until - if - this gets sorted there are just going to be big reductions in the stockmarkets. Without a rescue plan in place then the risk to all those bonds is enormous. I suspect those rescuers are just haggling for a better deal unless, of course, they are now begining to wonder whether it is worth their while funding a rescue. If they don't then it will be down, down, down for the markets. Quote Link to comment Share on other sites More sharing options...
SurgeonGeneral Posted March 3, 2008 Share Posted March 3, 2008 Until - if - this gets sorted there are just going to be big reductions in the stockmarkets. Without a rescue plan in place then the risk to all those bonds is enormous. I suspect those rescuers are just haggling for a better deal unless, of course, they are now begining to wonder whether it is worth their while funding a rescue. If they don't then it will be down, down, down for the markets. http://markit.com/information/products/cat...ory_graphs.html AAA now trading at 60c in Dollar. Freefall. Quote Link to comment Share on other sites More sharing options...
narco Posted March 3, 2008 Share Posted March 3, 2008 The bailout has bombed along with the ABX indices. Quote Link to comment Share on other sites More sharing options...
piece of paper Posted March 3, 2008 Share Posted March 3, 2008 Until - if - this gets sorted there are just going to be big reductions in the stockmarkets. Without a rescue plan in place then the risk to all those bonds is enormous. I suspect those rescuers are just haggling for a better deal unless, of course, they are now begining to wonder whether it is worth their while funding a rescue. If they don't then it will be down, down, down for the markets. Rescue? Why would they need rescuing? They've just had their AAA ratings reconfirmed. Don't you trust Moodys and S&P? p-o-p Quote Link to comment Share on other sites More sharing options...
SurgeonGeneral Posted March 3, 2008 Share Posted March 3, 2008 Rescue? Why would they need rescuing? The idea of putting up cash for your own insurers.. i mean really..... Laugh, almost passed my fags round! Quote Link to comment Share on other sites More sharing options...
beans on toast Posted March 3, 2008 Share Posted March 3, 2008 Monoline ratings were held, so no rescue necessary. For now!! Quote Link to comment Share on other sites More sharing options...
gfromls Posted March 3, 2008 Share Posted March 3, 2008 (edited) Warren Buffett has withdrawn his offer. he has also just said that the US are IN a recession now. ....also "stocks are NOT cheap". live on cnbc now. Edited March 3, 2008 by gfromls Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted March 3, 2008 Author Share Posted March 3, 2008 They only had their AAA ratings confirmed because there was a rescue package in place. If there is no rescue package the ratings will drop and that will mean those expensive bonds that the banks hold will be worse less. I don't know why exactly they are worth less but I suspect it is that they are considered more risky if there is no insurance underwriting them. Anyhow, at the moment it seems to me that a little old lady removing 10 bucks from an ATM machine is enough to send the US and UK stockmarkets into a pants wetting panic! Quote Link to comment Share on other sites More sharing options...
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