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

To: Tommaso who wrote (84172)7/26/2007 10:25:17 AM
From: 10K a day  Read Replies (1) | Respond to of 110194
 
>I admit that I have been waiting for years to read that Morgan has collapsed under the weight of multiple derivative and other obligations<

Bankers create the money when they write it (loan) down in the ledger. They package and sell it (the loan) with essentially no risk. It is aggravating to think the IRS will levy, assess and destroy you for not paying something that somebody just fabricated....



To: Tommaso who wrote (84172)7/26/2007 11:37:50 AM
From: GST  Read Replies (2) | Respond to of 110194
 
From what little I have read, I think the underwriters of these junk bonds have responsibilities that vary with each contract. It seems some are on the hook and some are not -- on the hook to pony up their own money if I understand it. That can't happen very often without capsizing even the largest boat. More likely -- it will end in a decade of litigation if things do not turn around.

Like you -- I would like to hear from those closer to this issue.


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