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Meerkat

Bear Stearns

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Bear Stearns obviously denying it on CNBC, but to those who understand: 1y CDS @ 750, 5y 600: a very good indication for a bit of financial distress...

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It's all happening across the pond:

Bear Stearns Shares Fall on Liquidity Speculation

http://www.bloomberg.com/apps/news?pid=206...&refer=home

TMA info was posted on market ticker forum!!

That is all, smoke 'em if you got 'em....

About 3pm ish on cnbc they mentioned that rumours of someone big ready to fall was doing the rounds...

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20% or so of the bad news is out. Much worse to follow. About 10 trillion $ has gone "missing" worldwide. All tied up in the value of houses.

And what did Merv say in 2006 about the "value" of houses?

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do you think the two are connected ? eg did BS write some big cds on TMA?

Sorry, what does TMA mean?

It's a bit late in the day I am afraid.

Thanks in advance.

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Sorry, what does TMA mean?

Thornburg Mortgage Inc. They dun got suspended earlier today, by virtue of being ****ed.

(Someone else will offer a much better explanation than mine....)

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No, and I wouldn't understand it if I did. However, I wonder whether Ambac is exposed. They are down 1.99 (20.95%) :o

p-o-p

Things are just looking awful, i have never lived in a time when so many financial horrors where popping out the wood work on a daily basis, Bloomberg everyday has turned to gloomberg and then doomberg on a daily basis.

The global economy is screwed, and those who screwed it should be tared and feathered. What is happening will effect everyone. Who ever engineered this mess needs hanging in the same fashion as Saddam.

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Thornburg Mortgage Inc. They dun got suspended earlier today, by virtue of being ****ed.

(Someone else will offer a much better explanation than mine....)

Cheers Moo.

I was aware of their problems (didn't spot they had been suspended), but hadn't joined the dots.

This is all getting a bit awful. :ph34r:

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This is serious , yet the DOW just brushes it off like it's a blip , and is down currently just 70 points on this :rolleyes:

Edited by grey shark

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Sorry, what does TMA mean?

It's a bit late in the day I am afraid.

Thanks in advance.

TMA is the EPIC (ticker code) for Thornburg mortgage listed on the NYSE. the were suspended today.... (e.g they are bust) The thing is this will trigger defaults on all the securities issued by TMA now the people that have bought those securities will have hedged the default risk using CDS (credit default swaps) now the question is

A. what CDS's exist for TMA

B. who wrote them,

C how did they hedge them

D who bought the hedge etc etc there is a whole can of couterparty risk about to be exploded on the world by the looks of things.

with BS down 9.5% it looks like they are on the hook for at least some of the TMA CDSs' but who knows they should be selling them and why do they know that?

BS back at -9.5% now by the way. meltdown avoided ;) for now....

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TMA is the EPIC (ticker code) for Thornburg mortgage listed on the NYSE. the were suspended today.... (e.g they are bust) The thing is this will trigger defaults on all the securities issued by TMA now the people that have bought those securities will have hedged the default risk using CDS (credit default swaps) now the question is

A. what CDS's exist for TMA

B. who wrote them,

C how did they hedge them

D who bought the hedge etc etc there is a whole can of couterparty risk about to be exploded on the world by the looks of things.

with BS down 9.5% it looks like they are on the hook for at least some of the TMA CDSs' but who knows they should be selling them and why do they know that?

BS back at -9.5% now by the way. meltdown avoided ;) for now....

Thanks jonpo.

That is the sort of detail my addled brain needs on a monday.:)

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20% or so of the bad news is out. Much worse to follow. About 10 trillion $ has gone "missing" worldwide. All tied up in the value of houses.

And what did Merv say in 2006 about the "value" of houses?

Wasn't it something along the lines of "Debt is real, house prices are just a matter of opinion".

There. Do i win the garden spade RB?

:lol:

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Wasn't it something along the lines of "Debt is real, house prices are just a matter of opinion".

There. Do i win the garden spade RB?

:lol:

in the current environment - Margin collateral is REAL - assets are just a matter of opinion.

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Egads! It looks like Enron was the prototype for the U.S. financial sector!

So true! Isn't it amazing that the entire financial system should be allowed to do the same as Enron. The Enron CEO was sent to jail for god's sake, and here nobody raises an eyebrow.

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  • 294 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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