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    • Thu Jul 24th 08:48 AM
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      Commented on:
      Bust, Bail, Repeat: The U.S. Enters into an Ever-Worsening Cycle
      You could not be more correct. The Treasury, the Fed and Congress are still to cowardly to say "enough is enough we will not trust the words of, or take the advice of the same folks who first said 'there is not problem', then 'the problems are contained' then 'the bottom is in sight' then 'recovery is near' only to then turn and ask for taxpayers to bailout their ever increasing dishonesty with taxpayer dollars. No, our leaders have sold our future and our dollar. They have filled out the Transfer of Title and have begun to transfer our former greatness overseas. Well, I guess the government we deserve believes what the bankers who created this mess tell and teach them... manipulate paper to support false profits... debase our once proud dollar and manipulate our markets by preventing them from pricing downside risk appropriately.
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    • Thu Jun 19th 20:30 PM
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      Commented on:
      MBIA vs. Smith and Jones
      Actually, Mr. Salmon is swimming upstream. Salmon states:
      "Such an action, in and of itself, would not trigger the clauses in MBIA's CDS contracts. For that, MBIA would need to be declared insolvent. "

      In fact, Mr. Salmon is more than a little wrong, he is completely wrong in his assertion.

      www.mbia.com/investor/... :
      "In a CDS exposure, a claim for the full loss, the difference between market and par value, can be made if a credit event (based on ISDA definitions) occurs."

      So, what are those definitions? They are broader than insolvency and only require ANY of the following:
      Bankruptcy, Obligation Acceleration, Obligation Default, Failure to Pay, Repudiation/Moratorium... Restructuring

      www.credit-deriv.com/i...

      One must wonder where his journalistic responsibilities to fact check are.
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