ryoder 1,590 #1 March 28, 2009 http://www.dailykos.com/storyonly/2009/3/27/713698/-The-Real-Crime-in-the-BailoutNaked-CDS-Deals Article referenced by previous link: http://www.rollingstone.com/politics/story/26793903/the_big_takeover/print"There are only three things of value: younger women, faster airplanes, and bigger crocodiles" - Arthur Jones. Quote Share this post Link to post Share on other sites
Gawain 0 #2 March 28, 2009 I don't often read the Daily Kos, but that article does bring up some interesting talking points.So I try and I scream and I beg and I sigh Just to prove I'm alive, and it's alright 'Cause tonight there's a way I'll make light of my treacherous life Make light! Quote Share this post Link to post Share on other sites
marks2065 0 #3 March 28, 2009 Quotehttp://www.dailykos.com/storyonly/2009/3/27/713698/-The-Real-Crime-in-the-BailoutNaked-CDS-Deals Article referenced by previous link: http://www.rollingstone.com/politics/story/26793903/the_big_takeover/print Quotegood article but the left won't bring it up nor will the media. It would make alot of people look like fools and that is not what the press or Obama's group wants, they are already loosing ground in the poles. Quote Share this post Link to post Share on other sites
Capt.Slog 0 #4 March 28, 2009 QuoteQuotehttp://www.dailykos.com/storyonly/2009/3/27/713698/-The-Real-Crime-in-the-BailoutNaked-CDS-Deals Article referenced by previous link: http://www.rollingstone.com/politics/story/26793903/the_big_takeover/print Quotegood article but the left won't bring it up nor will the media. It would make alot of people look like fools and that is not what the press or Obama's group wants, they are already loosing ground in the poles. Poles don't vote in US elections. Quote Share this post Link to post Share on other sites
jerryzflies 0 #5 March 28, 2009 QuoteQuotehttp://www.dailykos.com/storyonly/2009/3/27/713698/-The-Real-Crime-in-the-BailoutNaked-CDS-Deals Article referenced by previous link: http://www.rollingstone.com/politics/story/26793903/the_big_takeover/print Quotegood article but the left won't bring it up Very funny. Do you know what the Daily Kos is? (Apparently not). Quote nor will the media. It would make alot of people look like fools and that is not what the press or Obama's group wants, they are already loosing ground in the poles. The AIG bailout was started under the Bush administration and coordinated by Bush's Treasury Secretary. As far as losing ground is concerned, you do not seem to be correct: www.gallup.com/poll/112006/Gallup-Daily-Confidence-Obama.aspxIf you can't fix it with a hammer, the problem's electrical. Quote Share this post Link to post Share on other sites
riddler 0 #6 March 28, 2009 QuoteAs far as losing ground is concerned, you do not seem to be correct: http://www.gallup.com/...onfidence-Obama.aspx Psst - that graph timeline ended two months ago. The latest polls show less traction than in January, although a 60% approval rating is still pretty good, considering all the financial-management missteps of late. Naked CDS - makes those "whales" in Vegas look like minnows. Gambling trillions of dollars with zero risk - how many people in the world get to do that? BTW - AIG is refusing to say who benefitted from the the bailout, but Congress has stated that it's mostly European corporations and investors, paid for by US taxpayers.Trapped on the surface of a sphere. XKCD Quote Share this post Link to post Share on other sites
billvon 2,998 #7 March 29, 2009 >Poles don't vote in US elections. Well, neither do Danes, strictly speaking. However, as an election is basically a public opinion poll, polls do play a large role in shaping policy here in the US. Quote Share this post Link to post Share on other sites
Capt.Slog 0 #8 March 29, 2009 QuoteQuoteAs far as losing ground is concerned, you do not seem to be correct: http://www.gallup.com/...onfidence-Obama.aspx Psst - that graph timeline ended two months ago. The latest polls show less traction than in January, although a 60% approval rating is still pretty good, considering all the financial-management missteps of late. s. Obama approval 62% this a.m. according to Gallup. He could lose 1/2 of his support and still be doing better than the Republicans. This one from Gallup: sas-origin.onstreammedia.com/origin/gallupinc/GallupSpaces/Production/Cms/POLL/16uppa8fo0uyq1qn8owiiw.gif shows significant increase in American satisfaction with the state of the nation since Obama took over. Quote Share this post Link to post Share on other sites
marks2065 0 #9 March 30, 2009 QuoteQuoteQuotehttp://www.dailykos.com/storyonly/2009/3/27/713698/-The-Real-Crime-in-the-BailoutNaked-CDS-Deals Article referenced by previous link: http://www.rollingstone.com/politics/story/26793903/the_big_takeover/print Quotegood article but the left won't bring it up Very funny. Do you know what the Daily Kos is? (Apparently not). Quote nor will the media. It would make alot of people look like fools and that is not what the press or Obama's group wants, they are already loosing ground in the poles. The AIG bailout was started under the Bush administration and coordinated by Bush's Treasury Secretary. As far as losing ground is concerned, you do not seem to be correct: www.gallup.com/poll/112006/Gallup-Daily-Confidence-Obama.aspx Quote the neg side of the polls are rising (doulbled since Obama took office). the bail out was wrote by the dem controled congress so the wording and actions taken in the bailout was dem controlled and only signed by Bush. Quote Share this post Link to post Share on other sites
philh 0 #10 March 30, 2009 A lot of people like to exxagerate the exposure on derivtives by quoting the enormous notional value of outstanding contracts. But this is a gross misrepresentation. In a general sense, many derivatives are contracts for difference and so their notional values are never exchanged and hence irrelevant. More specifically take an example of a CDS, suppose bank A buy a CDS form Bank b , they enter into a contract, lets say for $100m. Now lets say that the market moves against bank a and they decided to cut their position. They now sell their CDS, bank B has made a tidy profit. they will generally not unwide the original deal, they will usually put on an offsetting deal so that the net exposure of the two deals is zero. But in doing so the volume of outstanding deals between the two has doubled even the exposure for both has fallen to zero. In other words measuring total volume does not account for offsetting deals and netting of exposures. Take the collapse of Lehman Brothers, the collapse of that bank led to a $400 bln pay out form CDs, but after netting the total amoutn that changed hands was only $7.2 bln Thats another reaosn why one should never pay attention to the outstanding notional size of contracts when discussing derivatives. Its a meaningless number often used to scare people. Quote Share this post Link to post Share on other sites
jerryzflies 0 #11 March 30, 2009 QuoteQuoteQuoteQuotehttp://www.dailykos.com/storyonly/2009/3/27/713698/-The-Real-Crime-in-the-BailoutNaked-CDS-Deals Article referenced by previous link: http://www.rollingstone.com/politics/story/26793903/the_big_takeover/print Quotegood article but the left won't bring it up Very funny. Do you know what the Daily Kos is? (Apparently not). Quote nor will the media. It would make alot of people look like fools and that is not what the press or Obama's group wants, they are already loosing ground in the poles. The AIG bailout was started under the Bush administration and coordinated by Bush's Treasury Secretary. As far as losing ground is concerned, you do not seem to be correct: www.gallup.com/poll/112006/Gallup-Daily-Confidence-Obama.aspx Quote the neg side of the polls are rising (doulbled since Obama took office). the bail out was wrote by the dem controled congress so the wording and actions taken in the bailout was dem controlled and only signed by Bush. Hmmm - which party do Bush and Paulson belong to? Who wrote the AIG bailout terms? WHo appointed Bernancke?If you can't fix it with a hammer, the problem's electrical. Quote Share this post Link to post Share on other sites
StreetScooby 5 #12 March 30, 2009 Both of those are good articles, well worth the read. One should be aware that notional value is not the same as face value. Once buys and sells are netted, the total figure is much lower. Any then the netted obligations are auctioned off. FNMA had their CDS auctioned off at about 90 cents to the dollar. Other companies usually fetch much lower values. But, to reiterate, both articles are worth reading.We are all engines of karma Quote Share this post Link to post Share on other sites
