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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Asymmetric who wrote (151471)9/28/2008 1:31:07 AM
From: stomperRead Replies (1) of 306849
 
Posted this over on John P's thread earlier:

"The failure of WaMu will have a ``significant'' effect on collateralized debt obligations that made bets on the lender's creditworthiness, Standard & Poor's said yesterday. Pieces of 1,526 synthetic CDOs worldwide sold default protection on Seattle-based WaMu, S&P said in a statement."

There is no way they can unwind this thing...none. I think John P has it right and the only way they are going to bring it to an end is Rockefeller sitting the largest CB's and financials CEO's down and saying "this IS what you will all take, we are closing these positions out and we are done now, good day gentlemen".
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