Tag Archives: credit default swap

FDIC Plan Likely To Fail

Mortgage bonds are going to need government support in these times of stress says Ben Bernanke, Federal Reserve chief. There’s also the option of covered bonds. Real estate values are plunging and foreclosures are way up. Irwin Nowick writes: First, … Continue reading

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There’s No One Cause For Our Financial Meltdown

Report: In the second presidential debate on Oct. 7, 2008, Sens. John McCain and Barack Obama laid out their explanations of the root causes of the financial crisis. Here’s the McCain version: “One of the real catalysts, really the match … 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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Insurance Companies Not Suffering Huge Mortgage Losses

The Travelers Cos., Hartford Financial Services Group Inc. and MetLife Inc. have all reported profit declines and Genworth Financial Inc. posted a quarterly loss driven by credit-related investments. AIG will be under particular scrutiny after the world’s largest insurer lost … 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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AIG’s Subprime Woes

From Reuters: "AIG has received inquiries from the SEC and the DOJ regarding the evaluation of AIG Financial Products credit default swaps portfolio," spokesman Chris Winans said. Over the last two quarters, the world’s largest insurer has posted record losses … Continue reading

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The Exciting World Of Credit Default Swaps

From the New York Times, June 1, 2008: There is no central market where investors can watch credit default swaps trade and see their prices. The swap that is central to the UBS-Paramax dispute is one of these customized deals, … Continue reading

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What’s A Credit Default Swap?

Time magazine reports on the demise of Bear Stearns and what could turn into the next credit crisis. The top banks hold more than $13 trillion in credit default swaps: As Bear Stearns careened toward its eventual fire sale to … Continue reading

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