John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (8765)	1/23/2008 8:04:16 AM
From: stomper	Read Replies (1) of 33421

<<And the Markets and the Governmental Regulators do not know where the so called bodies are buried.>> <<CounterParty Risk is the big shoe that has not dropped >> This is the crux of the credit crunch. The banks wouldn't give a hoot if the Overnight was at zero. None of the institutions trust each other b/c they all know each is carrying quantities of CDS/derivative exotic dreck that makes them all functionally bankrupt. They'll monetize it eventually like everything else. The hue and cry over the last week for us to nationalize the monolines is embarassing. In one week, it has turned from a wacky Cramer idea to being openly discussed as if it shouldn't even be debated. -david

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