The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: Riskmgmt who wrote (2737)	11/30/2007 12:07:42 PM
From: Paul Kern	Read Replies (1) of 71463

Are we overdoing the negativity? I see 7.5 billion invested in Citi from really sophisticated investors. Are they crazy? Crazy? No. They got an 11 per cent convertible and that might keep C in business but I don't know if that can save their dividend. The question is: If securitization was the cash cow and securitization is dead, where will the money come from to pay the divvie and the vig on the cash advance. Etrade took a whopping 27 cents on the buck for their toxic paper and since assets are worth what a counterparty is willing to pay, the paper is worth only 27 cents on the buck until some one else comes along who is willing to pay more.

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