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Euro Nation Default A Matter Of Time Claims Ex-Bundesbank President





Karl Otto Poehl is pouring some major cold water on all the optimistic talking heads saying eurozone defaults can be avoided. According to the former Bundesbank president, a default of smaller member of the euro region is only a matter of time.

 
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General Growth Properties in Default Under Some Loans





In an 8-K filing sneaked late on Friday after close, the highly leveraged mall operator General Growth Proprties announced that as a result a termination on February 12 of several forbearance agreements with lenders, and being unable to enter into forbearance agreements for some other loans it is in default under several of its loans. As noted in the 8-K:

 
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Victory for Einhorn: Allied Capital In Default





After seemingly endless years of wrangling back and forth, Einhorn has finally been vindicated: Allied Capital announced in an 8K today that it was notified by its lenders of a default in its credit fa

 
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17% Default Rate Implies Default A Day





Nothing so far today, means two tomorrow.

In the meantime apparently there was movement higher in auto term loans today as the rescue proposals imply government funding would rank junior to existing private financing. Chrysler, Ford and GM all gained 2-3 points in intraday trading.

Also, Bernanke to release Long-Term economic forecasts and present the Fed's long-term inflation goal. Fed says "credit risk in Fed actions exceptionally low." Greenspan used to say bubble risk in Fed actions exceptionally low too...

 
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California CDS Cheap As State Likely To Default





California seems poised for imminent financial collapse and it is anyone's guess how far the impact of a state default could propagate. California CDS offered at 355 seem cheap, especially when one considers that the one year default prob per the spread is 17.7% at a 80% recovery rate and drops to 9% if one assumes 60% recovery. Of course the question is whether the federal govt will bail out Cali, and just how an event of default will be defined for General Obligation securities, although all signs point to a test very soon in the future.
 
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Terex Stock Hammered Pre-Market on Fears of Technical Default





Terex, the maker of heavy duty off-road and mining trucks, announced earnings last night of $0.62 which actually bear street consensus of $0.54, however this morning the stock is down about 30% premarket on this ominous disclosure in the 8K filed:

 
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Terex Stock Hammered Pre-Market on Fears of Technical Default





Terex, the maker of heavy duty off-road and mining trucks, announced earnings last night of $0.62 which actually bear street consensus of $0.54, however this morning the stock is down about 30% premarket on this ominous disclosure in the 8K filed:

 
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Russia About to Default On Sovereign Debt Again





Developing Story:

 
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Russia About to Default On Sovereign Debt Again





Developing Story:

 
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Russia About to Default On Sovereign Debt Again





Developing Story:

 
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Overview Of Implied Default Rates and Probabilities





It is always entertaining to listen to Mark "Hogan's Bottom" Haines speculate about implied defaults, recoveries and what not... So we decided to dispel some ambiguity and speculation by presenting a brief overview of what the implied bankruptcy rate is, at least mathematically.

 
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Death Watch: Greece, and What Its Default Could Mean





The biggest threat to the U.S. Obama rally and the miracle recovery proposed by Democrats in the $825 billion bail out package may possibly reside about 6,000 miles away in Greece.

 
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Death Watch: Greece, and What Its Default Could Mean





The biggest threat to the U.S. Obama rally and the miracle recovery proposed by Democrats in the $825 billion bail out package may possibly reside about 6,000 miles away in Greece.

 
Tyler Durden's picture

Death Watch: Greece, and What Its Default Could Mean





The biggest threat to the U.S. Obama rally and the miracle recovery proposed by Democrats in the $825 billion bail out package may possibly reside about 6,000 miles away in Greece.

 
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