"Worst Since Lehman"

Tyler Durden's picture

If "everything's fixed," then why is the number of distressed debt issuers still the highest "since Lehman."


h/t @mattmiller1973

And the answer is not - it's just energy and it's different this time.

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wildbad's picture

glad they fixed that, i was almost worried


order66's picture

Tbtf banks always look for a way to lend to the riskiest people and then try to pawn that shit off on dumb money. It's like an established business practice now.

El Oregonian's picture

Ha! Only little people have debt. When you sit upon the top rung of the perch, everyone below catches it from the back end...

//sarc off

y3maxx's picture

Corzine has the winning formula how to become financially independant.

BullyBearish's picture

The ultimate DUMB MONEY is the U.S. Taxpayer...

LawsofPhysics's picture

Yes, the banks better hope the taxpayer doesn't become extinct.

LawsofPhysics's picture

Yes, but will the defaults and bankrupcies actually be allowed this time?

Given that the banks are flush with cash, my guess is yes.

Bangin7GramRocks's picture

I love a good doom chart like the next guy. But why no updates on the Hungry Man Militia? I want to hear some new details about shit trenches, suicide threats and other juicy details of the biggest waste of time and money since Joey debuted on NBC.

Bill of Rights's picture
Obama Meets with Black Lives Matter But Skips Scalia Funeral?



Classless lump of shit....


noless's picture

Huh, it's almost like he thinks white lives don't matter.

NoDebt's picture

Crisis is our natural state.  We've been away from it too long.  Finally TPTB will have another chance to "really get things done" in the midst of that.

deKevelioc's picture

Maybe the worst since the Knickerbocker Trust Company of 1906.

NoDebt's picture

You get an up-vote on that.  The "crisis" was seen by some as the impetus for Congress to pass the 1913 Federal Reserve Act.  And the rest, as they say, is history.

Wonder what yummy shit they're going to invent when we careen headlong into the next crisis?  I can hardly wait to see.


Stick in the Mud's picture

"Wonder what yummy shit they're going to invent when we careen headlong into the next crisis?"

Negative interest rates? Oh, wait...

Stick in the Mud's picture

Maybe better alternative: create distraction, invade upper Moldavia...

JamaicaJim's picture

Good Reference.

I learned about the KTC in 1970 - Economics class in high school. My teacher linked it directly to Jekyll Island.

Worth the read up to fellow ZH'ers


mayhem_korner's picture



The pundits are holding on to the meme that the banks' exposure to oil loans is small.  When incomes are down, and commodities are down (and not shippling), real profits are down, etc...all debt are riskier.  And the last time I looked, the amount of outstanding debt has been growing, not shrinking.

The shills are trying to tell you they can out-jump gravity, folks.

LawsofPhysics's picture

yes, 2008 again, of course, this time the banks have been hoarding massive amounts of cash...

mayhem_korner's picture

...hoarding massive amounts of cash...


For the TBTF execs, the parable of building bigger barns is going to be at the doorstep before they expect.

Dr. Engali's picture

Meh..., It will be okay. Just wait and see.

ebworthen's picture

Jim Cramer, circa 2008:  "Bear Stearns is fine!"

Element's picture

How long this time? Another six months until the suppurating boil pops once more? Or just three months?

I woke up's picture

Hopefully not until it warms up where electricity need decreases

Panic Mode's picture

Because debt can used as collateral to borrow even more money, so basically debt magically become more cash!! This should be regarded as great news. You moron!!

semperfi's picture

right - debt has morphed into an "asset" - so the more debt you have the richer you are, right?

LawsofPhysics's picture

For bankers/financiers and their puppet governments, yes.  For everyone else, soylent green.

vote_libertarian_party's picture

But is some money printing entity going to buy up the defaulting loans at > par.


POOF!!!  It magically gets fixed.


(I still haven't seen how the bookkeeping works at the Fed to account for those trillions in MBS losses from the last rodeo)

Winston Churchill's picture

Does it matter when you're never audited ?

TradingIsLifeBrah's picture
TradingIsLifeBrah (not verified) Feb 18, 2016 11:28 AM

The positive angle is that Distressed Debt Issuers can still find buyers.  The problem will begin when they can't issue debt anymore, markets are still open to them to rollover their debts and allows them to stay solvent.

thismarketisrigged's picture




Infield_Fly's picture
Infield_Fly (not verified) thismarketisrigged Feb 18, 2016 11:55 AM

watch porn instead - you don't have to talk to them after you're done

TxExPat's picture

If that includes your Girlfriend, then count your blessings...