Category Archives: credit default swaps

The Two Trillion Dollar Meltdown

I am reading the 2008 book by Charles Morris, “The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash.” He is publishing in February 2009 a revised paperback edition called “The Two Trillion Dollar Meltdown.” I can’t … Continue reading

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Where’s The Next Front For The Credit Crisis?

From Bloomberg: California Governor Arnold Schwarzenegger says his and other states may need emergency federal loans as funding dries up. Bernanke announced new moves today aimed at easing the lending crunch. The Fed will double its auctions of cash to … Continue reading

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Getting Rid Of Credit Swaps

John Williams writes: The problem on Wall Street is all about mortgage-backed securities, derivatives and credit swaps — none of which should exist. Close Fannie Mae and Freddie Mac; outlaw mortgage-backed securities, derivatives and credit swaps; dissolve them and let … Continue reading

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What You Need To Know About The Credit Crisis

From MSNBC: If you bank with a credit union, make sure that it is insured under the National Credit Union Insurance Fund, which provides similar protections for credit union account holders. Retirement investments The FDIC also provides coverage of up … Continue reading

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Credit Default Swap Market

From the New York Times: REINING in the runaway freight train otherwise known as the credit default swap market is a rising priority for regulators who oversee banks and insurers. If a default occurs, the party providing the credit protection … Continue reading

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No Longer Writing Credit Default Swaps

From the New York Times: MBIA has written $137 billion in swaps, which are privately traded insurance contracts that let people bet on companies’ financial health. Most of these contracts stipulate that if MBIA’s bond insurance unit becomes insolvent or … Continue reading

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What Are Credit Default Swaps?

Casey Miner writes: Subprime borrower: Has a few overdue credit card bills; goes to a storefront lender owned by major bank; takes out a $100,000 home-equity loan at 11 percent interest Lending bank: Assuming housing prices will only go up, … Continue reading

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