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

[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.

[Arraya]

http://www.counterpunch.org/martin10122008.html

We have seen the collapse of Lehman Brothers as sacrificial wolf, heard
further sabres being rattled in form of AIG, Freddie Mac and Fannie Mae,
and bailout, or rescue gone through on the basis of fear and plunging
markets. The public coffers have been prised opened further as to plan.
Now the second phase of Economic Blitzkrieg is to begin, and the bad news
is that as in total war, the citizen is no more than mere fodder to bomb.

[Arraya]

http://www.counterpunch.org/martin10122008.html

We have seen the collapse of Lehman Brothers as sacrificial wolf, heard
further sabres being rattled in form of AIG, Freddie Mac and Fannie Mae,
and bailout, or rescue gone through on the basis of fear and plunging
markets. The public coffers have been prised opened further as to plan.
Now the second phase of Economic Blitzkrieg is to begin, and the bad news
is that as in total war, the citizen is no more than mere fodder to bomb.

[Arraya]

http://www.counterpunch.org/martin10122008.html

We have seen the collapse of Lehman Brothers as sacrificial wolf, heard
further sabres being rattled in form of AIG, Freddie Mac and Fannie Mae,
and bailout, or rescue gone through on the basis of fear and plunging
markets. The public coffers have been prised opened further as to plan.
Now the second phase of Economic Blitzkrieg is to begin, and the bad news
is that as in total war, the citizen is no more than mere fodder to bomb.

[Arraya]

http://www.counterpunch.org/martin10122008.html

We have seen the collapse of Lehman Brothers as sacrificial wolf, heard
further sabres being rattled in form of AIG, Freddie Mac and Fannie Mae,
and bailout, or rescue gone through on the basis of fear and plunging
markets. The public coffers have been prised opened further as to plan.
Now the second phase of Economic Blitzkrieg is to begin, and the bad news
is that as in total war, the citizen is no more than mere fodder to bomb.

[Arraya]

http://www.counterpunch.org/martin10122008.html

We have seen the collapse of Lehman Brothers as sacrificial wolf, heard
further sabres being rattled in form of AIG, Freddie Mac and Fannie Mae,
and bailout, or rescue gone through on the basis of fear and plunging
markets. The public coffers have been prised opened further as to plan.
Now the second phase of Economic Blitzkrieg is to begin, and the bad news
is that as in total war, the citizen is no more than mere fodder to bomb.

[Enorah]

According to this article it would seem that the auctions for Lehman Brothers have already happened

http://www.cnbc.com/id/27193149

says that the Wamu cash settlement auction is on Oct 23.

[Enorah]

According to this article it would seem that the auctions for Lehman Brothers have already happened

http://www.cnbc.com/id/27193149

says that the Wamu cash settlement auction is on Oct 23.

[Enorah]

According to this article it would seem that the auctions for Lehman Brothers have already happened

http://www.cnbc.com/id/27193149

says that the Wamu cash settlement auction is on Oct 23.

[Enorah]

According to this article it would seem that the auctions for Lehman Brothers have already happened

http://www.cnbc.com/id/27193149

says that the Wamu cash settlement auction is on Oct 23.

[Enorah]

According to this article it would seem that the auctions for Lehman Brothers have already happened

http://www.cnbc.com/id/27193149

says that the Wamu cash settlement auction is on Oct 23.

[lonestar2000]

[quote=Enorah]According to this article it would seem that the auctions for Lehman Brothers have already happened

http://www.cnbc.com/id/27193149

says that the Wamu cash settlement auction is on Oct 23.[/quote]

Aye, the auction took place already, but the final settlement is not until next week, on the 20th or 21st. That is when those owing must actually pay up. However, the more I read, the more it seems that so many holders were both sellers and buyers of Lehman CDSs, that the majority of money actually trading hands is closer to the $6 billion range. This may yet be a non-issue, but that remains to be seen.

[lonestar2000]

[quote=Enorah]According to this article it would seem that the auctions for Lehman Brothers have already happened

http://www.cnbc.com/id/27193149

says that the Wamu cash settlement auction is on Oct 23.[/quote]

Aye, the auction took place already, but the final settlement is not until next week, on the 20th or 21st. That is when those owing must actually pay up. However, the more I read, the more it seems that so many holders were both sellers and buyers of Lehman CDSs, that the majority of money actually trading hands is closer to the $6 billion range. This may yet be a non-issue, but that remains to be seen.

[lonestar2000]

[quote=Enorah]According to this article it would seem that the auctions for Lehman Brothers have already happened

http://www.cnbc.com/id/27193149

says that the Wamu cash settlement auction is on Oct 23.[/quote]

Aye, the auction took place already, but the final settlement is not until next week, on the 20th or 21st. That is when those owing must actually pay up. However, the more I read, the more it seems that so many holders were both sellers and buyers of Lehman CDSs, that the majority of money actually trading hands is closer to the $6 billion range. This may yet be a non-issue, but that remains to be seen.

[lonestar2000]

[quote=Enorah]According to this article it would seem that the auctions for Lehman Brothers have already happened

http://www.cnbc.com/id/27193149

says that the Wamu cash settlement auction is on Oct 23.[/quote]

Aye, the auction took place already, but the final settlement is not until next week, on the 20th or 21st. That is when those owing must actually pay up. However, the more I read, the more it seems that so many holders were both sellers and buyers of Lehman CDSs, that the majority of money actually trading hands is closer to the $6 billion range. This may yet be a non-issue, but that remains to be seen.

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