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

To: ggersh who wrote (32123)	11/13/2010 10:03:45 PM
From: posthumousone	2 Recommendations Read Replies (2) \| Respond to of 71454

So why all the fuss over Ireland? Bailout costs for the banks are petty cash by US standards. $80 billion or so. However, the Irish state is running out of money to throw into the hole in the banks, buying out toxic assets into NAMA etc., so they are being pressured into accepting a loan from the ECB along with considerable conditions presumably. However, what is the real issue here? What are we not being told? Are there multiple layers of CDOs etc., written on the Irish assets, and held by German banks, that would be upset by any kind of default or haircut by the Irish banks?

To: ggersh who wrote (32123)	11/13/2010 10:22:22 PM
From: Real Man	1 Recommendation Read Replies (1) \| Respond to of 71454

They sure did. passing raw sewage to Ben was part of the plan. There they were, the netted ones and raw sewage. Of course, if Ben did not monetize raw sewage, the rest would blow too on counterparty risk. Once he did, the opportunity to nationalize them all was lost, and we started growing more derivatives and new raw sewage. Probably some hedge funds play that role now. Undercapitalized, of course. I'm quite surprised that there were so few hedge fund casualties.