Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: stockfiend who wrote (76484)	3/19/2008 3:25:29 PM
From: Think4Yourself	Read Replies (1) of 116555

One of their bond insurers is basically bankrupt. Merril is suing SCA in an attempt to force SCA to pay on $3.1B in bonds SCA unsured. SCA insured the bonds but now that defaults are going through the roof SCA is trying to get out of their contractual obligations. Yup, everything is fine and dandy out there. Rally those financials! Things are about to get ugly again.

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