MBIA Risk Plunges On CDS Commutation Speculation, And Is There More In Store

Tyler Durden's picture

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Quinvarius's picture

Something tells me these losses, while real, will never see the light of day on a balance sheet.  Not even Nick Leeson could bring a bank down anymore.

homersimpson's picture

But for the right amount of cash he'll tell you how he did it..

http://www.nickleeson.com/

The ol' chap is doing quite fine, I guess. $1.4 billion in losses seems like such a pittance nowadays. He probably would've been promoted nowadays..

For entertainment purposes, he should've posted a pic of his golddigging ex-wife..

disabledvet's picture

Fight the Fed at your peril.  Their job is to take care of "the correctly long Wall Street" and not the economy and not the short seller set.  Still is it perplexing the CB encourages deficit spending by governments State, Local and Federal to the point of what a reasonable observer might call a national catastrophe?  Only Wall Street could be so lucky.  And now "Enter the Sandman."  I think of it as setting the Quentin Tarantino classic "Finding Zoe" in Cairo and so far I haven't been "disappointed" in the sense that there's unique edginess to the edginess.

Yen Cross's picture

 Credit Default Swaps? Oh vultures do exist outside of rotting carcases in third world countries.

william the bastard's picture

The equity is only up a tad the last 2 days, 70 cents. At $12 it's still $3 under January's blowoff.

 

Threeggg's picture

Isnt this why the Deutsche Boerse AG and NYSE are merging, so they can take this derivative trading off-shore and not have to see the light of day. (I would say and not be scrutinized by the SEC) but that would be just silly --  right ?