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Genesis Posts: 71378 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/638-My....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2008-10-31 09:14:56
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Cheapkungfu Posts: 499 Incept: 2008-10-15 Central US
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Hahaha. Don't hold your breath for any more.
---------- “'That speech was phenomenal, Barack,’ I told him. And I will never forget his response. Without the barest hint of braggadocio or conceit, and with what I would describe as deep humility, he said quietly: ‘I have a gift, Harry.’” - D Senator Harry Reid's 2008 autobiography The Good Fight
2008-10-31 09:15:57
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Muscleknight Posts: 2786 Incept: 2007-06-26 Columbia, SC Online
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Maybe also all of the insurers in addition to AIG are toast as well when this occurs?
---------- My Financial Avatars - http://s677.photobucket.com/albums/vv131.... The best lies have elements of truth. If my uncle jack helped you off an elephant, would you help my uncle jack off an elephant? Yesterday's Tinfoil is Today's news Last modified:
2008-10-31 09:22:37 by muscleknight
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Thrustvectoring Posts: 149 Incept: 2008-09-17
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Too bad they already have your money.
2008-10-31 09:24:26
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Mo Posts: 5501 Incept: 2007-06-26 
Florida
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I don't think the AIG 'chain reaction' problem has passed. How could it? ---------- "The World has been cancelled. It doesn't even look like the world. There is one island that is maintained and is said to be owned by the Sheikh and the rest looks like a pile of muck."
2008-10-31 09:26:32
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Wiseitin Posts: 20 Incept: 2008-01-01
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could this affect life isurance payouts ? my mom passed two weeks ago and left a policy to the grandchildren.
2008-10-31 09:31:19
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Stormsailor1981 Posts: 8449 Incept: 2007-06-26
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i'm in for a 1000 at 162.00, hey it went to 163 already, i'm rich.
2008-10-31 09:31:57
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Thrustvectoring Posts: 149 Incept: 2008-09-17
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>Mo Anyone who gets onto the exchange can't get domino'd by an AIG failure. Unless the exchange itself gets flooded by some nasty systemic failure, of course.
2008-10-31 09:32:43
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Genesis Posts: 71378 Incept: 2007-06-26
KD^2
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Exactly. Once the exchange is up margin supervision comes into play because the guy in the middle is the one who's ass is on the hook, and they WILL NOT let that happen. Notice how there have NEVER BEEN FAILS on OCC-listed options? Gee, I wonder why? ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2008-10-31 09:33:45
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Hapablap21 Posts: 688 Incept: 2007-08-21 
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Am I being stupid if I hold out hope that they are trying to backdoor the Genesis plan?
2008-10-31 10:07:18
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Genesis Posts: 71378 Incept: 2007-06-26
KD^2
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Yes. Wake me up when they start locking up bankers and the alphabet soup is withdrawn - even a little. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2008-10-31 10:07:57
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Mike18xx Posts: 617 Incept: 2008-09-27 Banned
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Any idea how far away "listed shortly" is?
2008-10-31 10:21:18
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Cocoacash Posts: 40 Incept: 2008-09-27 Boston
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And the "Hail Mary" would be that when AIG's CDSs are forced into transparency that things aren't that bad? Just looking for clarification and trying to learn. (I'm not inclined to take a position - just curious). Thanks
2008-10-31 10:27:25
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Boshaugh Posts: 1886 Incept: 2008-08-08
Northern Virginia/DC Metro Area Online
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could this be what Hedgie is referring to as far as GS?
2008-10-31 10:55:13
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Themortgagedude Posts: 3929 Incept: 2007-12-17
saint louis
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Bos, Personally I think the VW trade blew up in Goldy's face. No matter what they say. ---------- "These are interesting times. We don't trust the government, we don't trust the legal system, we don't trust the media, and we don't trust each other! We've undermined all authority, and with it, the basis for replacing it! It's like a six-year-old's dream come true!"
2008-10-31 11:41:47
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Solarbird Posts: 319 Incept: 2008-01-06
Cascadia
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Hee, you have the same lotto entry point I do. (Well, I round it down to nine digits, or basically, one ticket per hundred million. But.) Yay, math!
2008-10-31 12:15:37
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Musashi Posts: 2942 Incept: 2007-11-06 Behind the Irony Curtain
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No link, but some bond guys say AIG is at least 2T in the hole.
2008-10-31 16:02:03
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Stonedog Posts: 1105 Incept: 2008-05-29
New Jersey
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Musashi, If that is the case, then the government loans were worthless when issued (not a surprise, merely a confirmation). But who knew what when becomes the operative question... ---------- "F**k CNBS, CONgress, Obama, the Democrats, the Republicans, the ratings agencies, the Banksters, the Fed, the FASB, all the government regulatory agencies, the Trilateral Commission, the Council of Foreign Relations, the G whatever, the UN, and any other bastard or big corporate interest that has a fingerprint on this
2008-10-31 16:33:09
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Musashi Posts: 2942 Incept: 2007-11-06 Behind the Irony Curtain
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They seem to think that they knew all along, and that both AIG and the loans are gone when this comes to pass.
2008-10-31 16:38:25
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Maple Posts: 4460 Incept: 2007-09-03
Southern California
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MARKETWATCH FIRST TAKE Investors cool to ICE CDS plan Commentary: Doubts arise over $500 million default swap market clearing By MarketWatch Last update: 4:27 p.m. EDT Oct. 31, 2008NEW YORK (MarketWatch) -- Of the dangerous securities in the marketplace, few have the systemic risk that credit default swaps have. Credit default swaps are another of those securities, insurance against corporate defaults, where the unimaginable happened. In the most famous collapse, American International Group Inc. sold them to investors looking to offset default risk on such iron-clad companies such as Lehman Brothers Holdings Inc. Now, the $62 trillion over-the-counter marketplace is becoming part of the system. The Intercontinental Exchange Inc. announced an agreement Friday in which it will use Clearing Corp. of Chicago to process CDS trades. The news triggered an initial jump in ICE stock that soon fizzled. Near the close, shares fell more than 5% on a day when the market saw broad gains. One reason investors may have lost enthusiasm is competition. The Chicago Mercantile Exchange along with Citadel Financial, the hedge fund and trading company run by Ken Griffin, is also readying a platform. Both are looking to get the blessing of the Federal Reserve which is pushing for a platform to bring clarity to a murky market. If it sounds complicated, imagine what the costs of running a clearing and settlement business will be. That cost is the concern of analysts such as Bernstein's Brad Hintz who notes that any clearing business will have to monitor "counterparties for compliance with the terms of the contract, in particular credit events defined under the contract; determining whether to exercise closeout rights when credit events occur; and (pursue) legal remedies for recovering net amounts owed under closed out positions" among other costs. Hintz also makes another great point: who's going to trade this stuff that much anyway? - David Weidner http://www.marketwatch.com/news/story/pl.... Last modified:
2008-10-31 16:41:39 by maple
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Scalper Posts: 1326 Incept: 2007-10-12 Green Party
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Karl: lotto payouts usually need to be well north of 300 million to make any sense in terms of odds. And this excludes the effects of taxation...nevetheless, i play the lotto too, once in awhile. it makes no sense not too IF you trade the equity markets actively...
2008-11-01 22:21:35
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