The comments about global markets managers starting to get concerned should be taken with a grain of salt. These would be the same clueless individuals who did not do due diligence on the crap they bought or guaranteed as CDO’s and worse SIV’s
They were not bright enough to see that if the assets underlying a derivative were worthless, so was the derivative. It is hard for me to believe that suddenly they get the picture when it has been obvious to the rest of us since 2004.
If it is true that they suddenly “understand” maybe the worst is over. They have been wrong about everything else.
