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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: epicure who wrote (54151)	3/16/2008 10:00:40 PM
From: Katelew	Read Replies (1) \| Respond to of 542970

No, Syb, all the money center banks and investment bankers are tied together through derivatives...mainly interest rate swaps and CDOs. This is the counterparty risk that's had the credit markets frozen since last summer. No one could tell just how toxic the other ones balance sheet was. With Bear Stearns, now the markets know. I've been worried about a rocketshot in the credit markets for about two weeks, and this could be the trigger. If you want to put money in the market, buy something good that gets dragged down with the others....but not one of the financials, IMO.