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 (10081)	9/26/2008 7:18:35 AM
From: carranza2	3 Recommendations Read Replies (1) of 33421

It seems obvious that the only way out of the debacle is for counterparty risk to be somehow erased. The holders and the counterparties will do this voluntarily or it will happen by decree but it will happen. Otherwise, the financial system will indeed implode. Can you think of any other ways out of the debacle? Edit: I now have read Hawkmoon's link to the article dealing with CDS tear-ups so it appears that the redundant CDS obligations can be discarded. A healthy first step. But there will be many such obligations which are not redundant. The regulatory failure is astonishing, mind-boggling.

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