ABX indexes continue to crater

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

Can’t see Heli-Ben lowering rates when the dollar is hitting new lows everyday,

Just think what the dollar would look like if Heli-Ben lowered rates 1% .

I think maybe they have work in Canada !!!

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

Can’t see Heli-Ben lowering rates when the dollar is hitting new lows everyday,

Just think what the dollar would look like if Heli-Ben lowered rates 1% .

I think maybe they have work in Canada !!!

[The-Shoveler]

bsrsharma

“Anybody wants to guess when the Canadian $ may pass US $?”

Today I think.. I would put a dollar (I mean a loonie) on it.

[The-Shoveler]

bsrsharma

“Anybody wants to guess when the Canadian $ may pass US $?”

Today I think.. I would put a dollar (I mean a loonie) on it.

[Bugs]

The thing that absolutely pisses me off about these failing hedgies is that these failures were avoidable. The loan originators cooked a large percentage of the books on these instruments and these investors bought them without checking on them.

Had the investors wanted to buy clean loans they could have gotten them. They didn’t care about anything other than the profit margins so the loan originators gave it to them. “Market Demand” in action.

I say that everyone in those pipelines should get sued, right down to the idiot appraisers who rubber stamped these stupid deals.

[Bugs]

The thing that absolutely pisses me off about these failing hedgies is that these failures were avoidable. The loan originators cooked a large percentage of the books on these instruments and these investors bought them without checking on them.

Had the investors wanted to buy clean loans they could have gotten them. They didn’t care about anything other than the profit margins so the loan originators gave it to them. “Market Demand” in action.

I say that everyone in those pipelines should get sued, right down to the idiot appraisers who rubber stamped these stupid deals.

[barnaby33]

I say calm down, sit back and watch the major indexes today. Its been ugly so far. I shouldn’t have sold my Lennar puts yesterday, but oh well.

Josh

[barnaby33]

I say calm down, sit back and watch the major indexes today. Its been ugly so far. I shouldn’t have sold my Lennar puts yesterday, but oh well.

Josh

[(former)FormerSanDiegan]

“tranche” is correct

If you say it fast it sounds like “trash”

[(former)FormerSanDiegan]

“tranche” is correct

If you say it fast it sounds like “trash”

[Allan from Fallbrook]

Two of the more respected voices in the market, Warren Buffett and Bill Gross (at PIMCO) have been yelling about the derivatives situation for a while now.

As far as avoidable: Absolutely. However, the big investment houses and banks were too busy chasing the shiny to sit down and do any serious diligence and the ratings firms were too busy making money hand over fist slapping AAA ratings on this worthless trash to pay any serious attention either.

Somewhat off topic, but interesting nonetheless, will be the impact of Basel-2 regs regarding AAA rated instruments. Quite a few banks had been amassing AAA rated CDOs as a way to lessen capital reserve requirements.

Now that S&P, Moody’s and Fitch’s have stopped going along with the “charade”, it will be curious to note the fallout in other market sectors, as well.

[Allan from Fallbrook]

Two of the more respected voices in the market, Warren Buffett and Bill Gross (at PIMCO) have been yelling about the derivatives situation for a while now.

As far as avoidable: Absolutely. However, the big investment houses and banks were too busy chasing the shiny to sit down and do any serious diligence and the ratings firms were too busy making money hand over fist slapping AAA ratings on this worthless trash to pay any serious attention either.

Somewhat off topic, but interesting nonetheless, will be the impact of Basel-2 regs regarding AAA rated instruments. Quite a few banks had been amassing AAA rated CDOs as a way to lessen capital reserve requirements.

Now that S&P, Moody’s and Fitch’s have stopped going along with the “charade”, it will be curious to note the fallout in other market sectors, as well.

[Author]

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