George Soros speaks to the Financial Times about his views on the credit crunch, recession, and the Fed's rescue of Bear Sterns. He mentions the credit default swap market which is the "Damocles Sword overhanging the financial markets".
"CDOs were a very important consideration by the Fed that they had to bail out Bear Sterns. Apparently Bear had about $2.5 trillion CDO contracts outstanding ."
click for video
This is an important addition to our prior post: Fear of counterparty risks caused Bear's failure.
source: George Soros on the credit crunch and Bear Sterns
Financial Times,
http://www.ft.com/cms/893ac9c8-757e-11dc-b7cb-0000779fd2ac.html?_i_referralObject=702070645&fromSearch=n
read also:
Fear of counterparty risks caused Bear's failure
http://manonthestreet64.blogspot.com/2008/04/fear-of-counterparty-risks-caused-bears.html
Monday, April 7, 2008
George Soros on the credit crunch and Bear Sterns
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment