zerohedge.blogspot.com - 3/4/2009
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As the market is running on fumes based on some doctored Chinese data, GE keeps probing new depths, hitting another record low of $6.36 at last check. The major concern plaguing the AAA-rated conglomerate today (whose CDS trades at distressed debt levels of about 20 points upfront) has to do ...
online.wsj.com - 3/10/2009
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online.wsj.com —
Pilloried for missing credit problems in the nation's
mortgage markets, credit-ratings firm Moody's Investors Service is trying...
to get ahead of corporate bankruptcies. The firm on Tuesday is publishing a list called the Bottom Rung, detailing the ...
(more)
Moody's Aims to Be Ahead on Defaults
zerohedge.blogspot.com - 3/10/2009
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zerohedge.blogspot.com —
Moody's, which has long been criticized for sleeping
through the credit bubble and, by many accounts, causing...
it in the first place, just came out with an attempt at absolution. In a quarterly publication called the "Bottom Rung", the rating agency ...
(more)
Moody's Releases The Leper List
minyanville.com - 3/10/2009
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minyanville.com —
Make-up calls belong in basketball not finance. In
an attempt to render itself useful Moody’s Investors Services...
(MCO) is issuing a list dubbed “The Bottom Rung ” cataloguing the riskiest 15% of all companies it tracks. The effort which the company claims is an attempt to get ...
(more)
Moody's List of Riskiest Companies Forgets to Include ...
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Blog Reactions
Wednesday links: tough starts
Abnormal Returns —
... arb spreads are a mess. (WSJ.com)
Just because stocks look cheap does not mean they cannot fall further. (FT Alphaville, Free exchange)
Don’t read too much into the VIX futures. (Daily Options Report)
How did GE (GE) get itself into this single-digit predicament? (Clusterstock, Zero Hedge, Accrued Interest, Curious Capitalist) ...
The Silly People/Ominous GE And JPM/CIA Snoop Ted Truman, And Blasts From The Past
GoldSeek.com —
... debt investors have access to (even though technically they should not - my bond desk was right next to the bank trading desk). If GE credit default protection costs 20% up front now, a GE restructuring of some sort is coming soon to a theatre near you. Certainly today's stock price action in GE is starting to discount these facts. Be nice if burned investors start filing lawsuits against GE and CNBC
. GE on the hook for $8 billion in credit default payments if they get downgraded: http://zerohedge.blogspot.com/2009/03/ges-8- ...
Holy Crud! Part Deux
Random Roger —
... I don't follow GE very closely but the looming downgrade, should it happen, will cause its costs to go up. The more notches in the downgrade the more expense in funding its operations. There also exists the possibility of an $8 billion CDS problem. ...
Related: ge 8 billion time
Is Madoff's $50 Billion Figure Also Ficticious? —
DealBook
Bernard Madoff and $50 billion.
His name and that number have become inseparable in describing the enormity of what has been called the largest white-collar fraud in history. It's a figure that has helped demonize Mr. Madoff and relegate big-time money managers charged in subsequent securities ...
Is Madoff's $50 Billion Figure Also Fictitious? —
DealBook
Bernard Madoff and $50 billion.
His name and that number have become inseparable in describing the enormity of what has been called the largest white-collar fraud in history. It's a figure that has helped demonize Mr. Madoff and relegate big-time money managers charged in subsequent securities ...
AIG: The $162 billion money sink —
Rolfe Winkler
Treasury is now into AIG for $70 billion, the Fed for $92 billion, according to CNBC. This after the government intervened for the third time today in order to prop the company up. AIG’s $62 billion loss in Q4 is a new record, surpassing Time Warner’s $40 billion+ loss a few ...
Two Ways: AIG on Borrowed Money, Time —
Minyanville
AIG Gets Bigger AllowanceThe top story this morning: AIG (AIG) is getting another $30 billion from the US government on top of the $150 billion the company received last year. In a joint statement the Treasury Department and Federal Reserve said the rescue is necessary “given the systemic ...