Saturday, April 22, 2006

Thanks!

Rather than blowing up, credit spreads have gone lower and lower. Economist.com:

"But the issue that has most hurt credit-derivatives buyers, analysts say, is an arcane and technical one. A few companies have unexpectedly tendered for their own bonds. Because buy-backs eliminate the risk of default, the consequences for the price of CDS contracts written on these bonds have been uniformly brutal."


After serveral years of banging on about risk

The hidden dangers of structured fiance

Structured finance can bring unstructured losses

I guess it will come right one day and then they will be shouting "I told you so!"

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