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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: ggersh who wrote (29236)	7/12/2010 3:15:34 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 71425

It´s good, pretty technical and clean. I was astonished to find that many of my own thoughts of the time (see biweekly bursts on Bill Wexlers´ thread) in the book. What I liked most was the section in which the players got frightened not being able to cash in their otc bets (contracted with the likes of Bear Stearns, Morgan Stanley etc..) I was frightened by a possible broker failure as well and invested 100% of the cash in US treasuries. And the question of December 2007 with all the CDOs in the tank: Who is gonna pay for it, except the dumb Germans but they haven´t taken it all, by far. Which bank is hit most, there must be at least one LTCM and we have not seen it!" What was really new and unbeknowns to me was how one single desk at MS lost nearly 10B USD on one trade which makes it the largest loss taken by a prop desk ever.