Interesting People mailing list archives
Fears of Lehman's CDS derivatives haunt markets
From: David Farber <dave () farber net>
Date: Fri, 17 Oct 2008 09:59:57 -0400
Begin forwarded message: From: dewayne () warpspeed com (Dewayne Hendricks) Date: October 16, 2008 11:43:00 PM EDT To: Dewayne-Net Technology List <xyzzy () warpspeed com> Subject: [Dewayne-Net] Fears of Lehman's CDS derivatives haunt markets [Note: This item comes from reader Jack Unger. DLH] From: Jack Unger <junger () ask-wi com> Date: October 16, 2008 7:56:44 PM PDT To: Dewayne Hendricks <dewayne () warpspeed com> Subject: Fears of Lehman's CDS derivatives haunt markets It is a full week after bankers gathered in New York to start sorting out the derivatives mess left by the bankruptcy of Lehman Brothers. We still do not know who is on the hook for some $360bn of default insurance, or how much they will have to pay.Ominous talk of big names and big sums continues to haunt global markets, thwarting efforts by the US and European authorities to unlock inter-bank lending. Traders have noted with acute interest that insurer AIG - now nationalised - says it will need another $38bn from the US government, on top of the $85bn bail-out it has already received. AIG is the world's biggest underwriter of credit protection.
Those on the wrong side of these Lehman debt contracts - known as credit default swaps (CDS) - must come up with the money by Tuesday, the next D-Day in the ever-fraught calendar of the credit markets. There has been a deafening silence so far...
<http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3211647/Fears-of-Lehmans-CDS-derivatives-haunt-markets.html >
RSS Feed: <http://www.warpspeed.com/wordpress> ------------------------------------------- Archives: https://www.listbox.com/member/archive/247/=now RSS Feed: https://www.listbox.com/member/archive/rss/247/ Powered by Listbox: http://www.listbox.com
Current thread:
- Fears of Lehman's CDS derivatives haunt markets David Farber (Oct 17)
- <Possible follow-ups>
- Re: Fears of Lehman's CDS derivatives haunt markets David Farber (Oct 17)