The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
And that isn't even the real issue. The real issue is that, as I understand it, if you can't produce the note, then the MBSes don't legally exist.
So the assets don't exist. So the creditworthiness isn't there anymore. And presumably there's leveraging involved here. And credit moves trigger options in other deals.
And those are just the cases where they thought they were putting out legitimate MBSes. Which it now seems they were not (seriously, read that).
So, yeah, I'm thinking this is pretty much Armageddon.
Be nice to America. Or we'll bring democracy to your country.
by Frank Schnittger - Dec 6 10 comments
by gmoke - Dec 8 1 comment
by Frank Schnittger - Dec 5 8 comments
by Metatone - Dec 5 11 comments
by ARGeezer - Dec 6 23 comments
by Frank Schnittger - Dec 5 4 comments
by marco - Nov 30 8 comments
by Oui - Dec 6 18 comments
by gmoke - Dec 81 comment
by Oui - Dec 8
by ARGeezer - Dec 623 comments
by Oui - Dec 618 comments
by Frank Schnittger - Dec 610 comments
by Frank Schnittger - Dec 54 comments
by Frank Schnittger - Dec 58 comments
by Metatone - Dec 511 comments
by marco - Nov 308 comments
by afew - Nov 2845 comments
by Bjinse - Nov 2413 comments
by Oui - Nov 2317 comments
by vbo - Nov 219 comments
by Metatone - Nov 2030 comments
by gmoke - Nov 195 comments
by Oui - Nov 196 comments
by Cyrille - Nov 18107 comments
by Ted Welch - Nov 1510 comments
by Oui - Nov 14
by Oui - Nov 1210 comments