 | Energy Decline and National GDP in 2050: The Growth of Destitution | The Oil Drum: Canada | The Energy and Environment Round-Up: November 21st 2007 |  |
116 comments on The Finance Round-Up: November 16th 2007
Comments can no longer be added to this story.
User login
Archives
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2007
- November 2007
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- May 2007
- April 2007
- March 2007
- February 2007
- January 2007
- December 2006
- November 2006
- October 2006
License
This work is licensed under a Creative Commons Attribution-Share Alike 3.0 United States License.
GAIA Host Collective
Regarding the credibility at Fitch article, I think that the management teams referred to in the original Bloomberg article linked by Mish are those at the various bond insurers, not that of Fitch itself. IOW, Mish misinterpreted this to mean that Fitch would bend over for the insurers, whereas Fitch was saying that they expected the insurers would take prudent steps to prevent downgrades.
Not that that's really possible at this point...
Head on into the liquidity trap.
From the top dogs, 2T out of the credit markets
http://www.bloomberg.com/apps/news?pid=20601087&sid=aXHulkIznCr0&refer=h...
If however you read the details, they are really saying 4T and are referencing it to US assets in the text.
Maybe the mother of all "corralitos".
http://en.wikipedia.org/wiki/Corralito
Except in the US where people are not liquid it's going to be more like a slaughtering chute then a corral.
However, Fitch will be under enormous pressure, because of the likely collateral damage, not to downgrade and may take an over optimistic view where possible.