Rumor of the Day: Bear Goes Belly Up
While I believe Bear has lots of troubles, I am not ready to declare them a zero. Follow this course of events: First, Lehman Bros was...
Who Painted Ambac’s Tape?
Have a look at this run of transactions in the stock of Ambac (ABK) on Friday: > Source: Bloomberg Data Services >Here’s why...
FBI Investigating Countrywide
Rumour of Second Bail Out Rumour
I love these comments, coming from a pair of clever traders in the UK: Rumour of second bail out rumour coming in Ambac. Word is that...
Ambac, Part III
Riddle Me this Batman: Over the past 2 months, we have seen at least 3 rallies predicated on the rumor of an Ambac (ABK) rescue...
Leveraged Losses: Lessons from the Mortgage Market Meltdown
My buddy Paul is off skiing in Aspen, Colorado leaving us worker drones to do the heavy lifting. Ski boy managed to forward me this...
Monoline Duoline Rescue Plan: 5th Time the Charm?
US Equity markets were ending last week on a down note, when rumors of an Ambac (ABK) rescue plan started circulating (via Charlie...
UBS on a Trillion Dollar Meltdown
Interesting discussion from the FT (3 parts) with George Magnus, UBS senior economist advisor: click for video Thanks, Dominique! >...
The Bankers’ Bailout
I mentioned this yesterday (Inflating Our Way Into Recession), but I thought it was an important enough piece to highlight on its own....
Credit Default Swaps and Financial WMDs
Gretchen Morgenson’s NYT article yesterday offered a good primer about Credit Default Swaps (CDS): Few Americans have heard of...