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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated
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To: TH who wrote (25328)6/13/2011 9:21:17 PM
From: The Reaper2 Recommendations  Read Replies (2) of 119362
 
You would be hard pressed to argue that there is not sufficient capital or liquidity.

I read somewhere just recently that the U.S. banks have an enormous exposure to CDS they wrote on Greek debt. That's where all the liquidity is going to go right up to the insolvency point for these banks. If Greece has a default event, XLF puts are where you want to be. That is why you're hearing so much chatter in Euroland about a solution that doesn't trigger a "default". If the CDS's have to be paid out it's going to be game over. Just on Greece alone there's something like $100B notional value outstanding. It's AIG all over again.
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