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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: jimmg who wrote (70712)9/30/2006 5:19:34 PM
From: Paul Kern  Read Replies (1) | Respond to of 110194
 
I really don't think the managers give a rat's ass about the blow-up as long as they have been paid $20+ million bonuses for a few years prior to the event. That's the beauty of playing with other people's money. It's a no-lose proposition for them.



So, at the first sign of trouble, the hedgies can just liquidate and disappear. Then, what happens to holders of the paper who thought they were insured against the defaults?


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