Monday, August 20, 2007

How deep does this rabbit hole go?

Australian councils facing CDO losses, reports Daily Telegraph

I don't know Dorothy, but buckle your seatbelt because Kansas is going bye bye. Along with most of the World Mortgage system.

Posted by lvmreader @ 02:26 PM (557 views)
Please complete the required fields.

2 thoughts on “How deep does this rabbit hole go?

  • That is interesting. The last time this happened, the resulting swaps that had gone down in value were ruled illegal and ultra vires the consititutions of the councils (Hazell v Hammersmith & Fulham LBC).

    Now of course we have the well being power in The Local Government Act 2000. So, will they now be illegal these investments or will Mr. Brown at the Treasury have to put his hand in his pocket.

    Watch this space.

    Please complete the required fields.

  • So I can bet on there stock market crashing tomorrow.
    This would lead to UK FTSE going tomorrow as well. Where is David .. I go 1-0 FTSE crashing tomorrow and going below 6000.

    Please complete the required fields.

Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>