Archive - Mar 30, 2009 - Story

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A View At The Consumer Balance Sheet

Submitted by Tyler Durden on 03/30/2009 12:50 -0500



As more and more questions rise about the real worth of U.S. assets in the form of household net worth, it makes sense to summarize the balance sheet of the American consumer. The following snapshot compliments of David Rosenberg:

 
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GGP Fails To Obtain Required Consents By Deadline

Submitted by Tyler Durden on 03/30/2009 11:49 -0500



GGP announced that its consent solicitation expired on March 27 without obtaining the required minimum consents from The Rouse Company bondholders. As there has been no new extension announced, this can only mean that the company is now in default, although we would wait for a formal announcement from the company, which is continuing last minute "hail mary discussions" with TRLCP ad hoc bondholders.

 
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Simon Property Group Defaults On Mall Loan

Submitted by Tyler Durden on 03/30/2009 11:10 -0500



And so it begins.

 
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Frontrunning: March 30

Submitted by Tyler Durden on 03/30/2009 10:06 -0500



  • GM has 60 days until its brand new dodecatuple secret bankruptcy deadline (Bloomberg)
  • Russia backs return to Gold Standard (Telegraph)
 
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