Warren Buffett once famously described credit default swaps as "financial weapons of mass destruction." Now these complex insurance policies are once again posing a menace to America's too-big-to-fail banks. The last time around, CDS on U.S. subprime mortgage bonds nearly brought down insurer AIG (AIG), requiring an $85 billion bailout from the U.S. Treasury. This time, the problem is European ..
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Europe's ticking time bomb: Credit default swaps
Posted by mortgage 140 days ago (Editorial)
Ticking time bomb: Credit default swaps
Posted by mortgage 140 days ago (Editorial)
Warren Buffett once famously described credit default swaps as "financial weapons of mass destruction." Now these complex insurance policies are once again posing a menace to America's too-big-to-fail banks. The last time around, CDS on U.S. subprime mortgage bonds nearly brought down insurer AIG (AIG), requiring an $85 billion bailout from the U.S. Treasury. This time, the problem is European ..
Europe's ticking bomb: Credit default swaps
Posted by mortgage 140 days ago (Editorial)
Warren Buffett once famously described credit default swaps as "financial weapons of mass destruction." Now these complex insurance policies are once again posing a menace to America's too-big-to-fail banks. The last time around, CDS on U.S. subprime mortgage bonds nearly brought down insurer AIG (AIG), requiring an $85 billion bailout from the U.S. Treasury. This time, the problem is European ..
Governments Using Swaps Emulate Subprime Victims of Wall Street
Posted by mortgage 191 days ago (Editorial)
Ask a Nobel Prize-winning economist what?s the difference between the mayor of Baltimore losing taxpayer money with derivatives sold by Wall Street and millions of Americans defaulting on subprime loans and he?ll say there isn?t any: State and local governments are victims of opaque financing they don?t understand, the same way individuals go broke on borrowing at rates too good to be true.
PMI Swaps Signal Mortgage Insurer May Default: Corporate Finance
Posted by mortgage 329 days ago (Editorial)
PMI Group Inc., the third-largest guarantor of U.S. home loans, may be headed toward default following four years of losses, trading in credit derivatives shows.
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