October 21st – a date to be remembered as when the floor falls out

[lonestar2000]

October 21st 2008 may just be remembered for centuries to come as the day the floor fell out of the financial system.

Just why is this day important, what happens that is causing the collective world community to hold its breath? It is the tentative date for when Lehman Brothers files for bankruptcy, causing on the order of $400 Billion dollars worth of Credit Default Swaps to become due.

A quick overview of this debacle can be read here:
http://www.bloggingstocks.com/2008/10/15/will-lehman-bankruptcy-drop-400-billion-shoe-on-October-21st/

I hope everyone here is in cash or gold before this date, I’m already there.

[kev374]

i thought counterparty claims were estimated at $6B, or is this a wrong figure?

[kev374]

i thought counterparty claims were estimated at $6B, or is this a wrong figure?

[kev374]

i thought counterparty claims were estimated at $6B, or is this a wrong figure?

[kev374]

i thought counterparty claims were estimated at $6B, or is this a wrong figure?

[kev374]

i thought counterparty claims were estimated at $6B, or is this a wrong figure?

[Enorah]

Wait. I thought I read that last week’s craziness was a result of the fall-out from Lehman Brothers and then the fall out from Wamu was supposed to be in 2 weeks time.

[Enorah]

Wait. I thought I read that last week’s craziness was a result of the fall-out from Lehman Brothers and then the fall out from Wamu was supposed to be in 2 weeks time.

[Enorah]

Wait. I thought I read that last week’s craziness was a result of the fall-out from Lehman Brothers and then the fall out from Wamu was supposed to be in 2 weeks time.

[Enorah]

Wait. I thought I read that last week’s craziness was a result of the fall-out from Lehman Brothers and then the fall out from Wamu was supposed to be in 2 weeks time.

[Enorah]

Wait. I thought I read that last week’s craziness was a result of the fall-out from Lehman Brothers and then the fall out from Wamu was supposed to be in 2 weeks time.

[lonestar2000]

[quote=Enorah]Wait. I thought I read that last week’s craziness was a result of the fall-out from Lehman Brothers and then the fall out from Wamu was supposed to be in 2 weeks time.

[/quote]

The first shoe to drop was when Lehman filed for bankruptcy, but the 21st is when their CDS settlements will be announced, and nobody yet knows just how big they will be. That is the problem, it could be a minor nuisance, or it could be a disaster, compounding the problem to such a degree that the entire system will simply collapse under the strain, resulting in catipulation. I wonder what Bernenke and Paulson have cooking to avert this disaster.

[lonestar2000]

[quote=Enorah]Wait. I thought I read that last week’s craziness was a result of the fall-out from Lehman Brothers and then the fall out from Wamu was supposed to be in 2 weeks time.

[/quote]

The first shoe to drop was when Lehman filed for bankruptcy, but the 21st is when their CDS settlements will be announced, and nobody yet knows just how big they will be. That is the problem, it could be a minor nuisance, or it could be a disaster, compounding the problem to such a degree that the entire system will simply collapse under the strain, resulting in catipulation. I wonder what Bernenke and Paulson have cooking to avert this disaster.

[lonestar2000]

[quote=Enorah]Wait. I thought I read that last week’s craziness was a result of the fall-out from Lehman Brothers and then the fall out from Wamu was supposed to be in 2 weeks time.

[/quote]

The first shoe to drop was when Lehman filed for bankruptcy, but the 21st is when their CDS settlements will be announced, and nobody yet knows just how big they will be. That is the problem, it could be a minor nuisance, or it could be a disaster, compounding the problem to such a degree that the entire system will simply collapse under the strain, resulting in catipulation. I wonder what Bernenke and Paulson have cooking to avert this disaster.

[lonestar2000]

[quote=Enorah]Wait. I thought I read that last week’s craziness was a result of the fall-out from Lehman Brothers and then the fall out from Wamu was supposed to be in 2 weeks time.

[/quote]

The first shoe to drop was when Lehman filed for bankruptcy, but the 21st is when their CDS settlements will be announced, and nobody yet knows just how big they will be. That is the problem, it could be a minor nuisance, or it could be a disaster, compounding the problem to such a degree that the entire system will simply collapse under the strain, resulting in catipulation. I wonder what Bernenke and Paulson have cooking to avert this disaster.

[Author]

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