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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 445.60-10.1%Jan 30 4:00 PM EST
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To: Cogito Ergo Sum who wrote (28848)1/31/2008 6:05:45 AM
From: elmatador  Read Replies (2) of 219949
 
The Fed knows something we don't know. This conspiracy theory emerged last fall and is growing with each Fed rate cut.

Currently, traders are speculating that a meltdown of at least one major financial institution could by sparked by the collapse of one or more obscure insurance companies that purport to insure risky debt instruments linked to subprime mortgages that Wall Street has been peddling around the world in recent years.

After Wednesday's rate cut, Fitch Ratings cut its credit rating on bond insurer Financial Guaranty Insurance to double-A from triple-A. Analysts attributed the stock market's late reversal to the Fitch move and to fears that similar actions await other bond insurers, including MBIA and Ambac Financial Group.
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