Archive - Apr 12, 2009 - Story
Genworth Financial Enters Run Off Mode, Others To Follow?
Submitted by Tyler Durden on 04/12/2009 22:16 -0500Following up on a previous post discussing how the OTS's TARP cutoff could be the death blow to Genworth Financial, the analysts at Egan Jones have released an analysis that basically confirms that the company is now in run off mode, or will just collect cash from asset unwinds.
Observations On The U.S. Debt
Submitted by Tyler Durden on 04/12/2009 17:57 -0500Some observations on the total U.S. debt (the number are conservative) without commentary. The total is subject to interpretation and the probabilistic treatment of contingent liabilities and guarantees as well as the netting of derivative notionals.
Total US Debt so far: $115 - $315 Trillion dollars? (excluding/including derivatives notional)
$380,000 - $1,037,000 per person.
The break out:
$9.7 Trillion in bailouts
Quantology Revisited: The Negative Convexity Implications Of Delta-Hedging
Submitted by Tyler Durden on 04/12/2009 13:39 -0500I thank readers who provided tremendous insights on the market illiquidity post. However, one point that nobody mentioned, which may very well be at the heart of the problem, has to do with the issue of negative convexity from a delta-hedging perspective.
Weekend Reading
Submitted by Tyler Durden on 04/12/2009 13:30 -0500A visual guide to deflation (Mint)
Government Sachs is in control (Market Watch)
Graphic representation of the U.S. debt (CNBC)
