"A republic, if you can keep it." Vegas, taxes.
"A republic, if you can keep it." Vegas, taxes.
Image from NY Times article, Arcane Market Is Next to Face Big Credit Test, an article which is getting huge circulation among financial blogs as it is makes public to the world at large what the financial blogs have been…
Credit default swaps are, in effect, insurance on bonds. The seller pays the buyer a fee, the buyer agrees to pay if a default happens. However, this market is so unregulated and CDS get re-sold so often that the original…
Privately held FGIC, the third largest bond insurer, has asked the NY Dept. of Insurance to be split in half. One company would get their still safe municipal bonds, the other would be the repository of the toxic financial sludge.…
A major homebuilders political action committee says they will stop giving campaign “contributions” to Congresscritters until legislation that benefits their industry is forthcoming. This would appear to be an admission of bribery but of course couldn’t be because bribery is…
A recent attempted sale of over one hundred auction rate securities failed to find any buyers. Dealbreaker explains why this seemingly esoteric event could have nasty repercussions. In the private wealth group, they’ve been treating these things as if they…