DislikedThey do need to get LIBOR under control. I can only thank God I do not have an ARM. The LIBOR is an important piece to the mortgage issues in US, I'm surprised they have not done more in that regard.Ignored
for instance, for the first time in history of man, global coordination between the central banks takes place, and sentiment on this thread seems to be split about 50/50 between "wth?" and "been talkin about it for days..."
anyway, i hit the wrong key and lost it all. no worries. altho mankind as a species is the worse off for it's loss, ya'll are the better off for not having to listen to any of it. i'd have wound up on a lot more ignore lists than I'm already on.
i'm flat right now, taking a mental health day (maybe a week) and going to mow the grass.
funny thing, i actually remember that on one of the maybe 3 times i listened to "talk radio" back in the late 80's or maybe 1990-91, i heard this guy saying that "these credit derivatives would be the house of cards that brought down the global house..." realize this would have been on the upside of the 1987 crisis and everything was good. i had no idea what he was tallking about, just that it sounded scary, he's probably a whack job anyway, and where'd my geezer rock station go? funny what you remember.
here's 4 links i picked from among many in my pandora's box of bookmarks if anyone is curious and gives a hairy hoot. gives you a starting place to google stuff from. some of the stuff you read in these links from months or years ago, is in the news today as i type...
now i know why suntrader slipped away when he did. hog farms will do well in the future.. "man does not live by bread alone, he must also have coffee and bacon" or something lke that.
LIBOR... why it's important
http://www.forexfactory.com/showpost...ostcount=35729
BIS... maybe a little heavy on the right wing bias, but the links and sources are solid, draw your own conclusions
http://www.augustreview.com/issues/g...nts_200510147/
CDO's...scary to the max, but a root cause since late 80's/early 90's of current pain
http://www.financialsense.com/editor...2008/0606.html
A little out of date, but more CDO history, links, and facts than you'll ever want to know...
http://credit-deriv.com/crenewsfeb04.htm#greenspan
one of my favorites from back in the day...
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FUBAR...