[bruinbirdman]

An FT aside on this article -

SIVs at risk of downgrade
Ratings agency Moody’s put on review for downgrade debt issued by 16 different structured investment vehicles including, for the first time, some large bank-sponsored vehicles thought to be the strongest.

The agency said the SIVs continued to suffer from the liquidity freeze and that it was becoming likely they would have to realise losses on the sale of assets.

The roll-call included three SIVs run by Citigroup and two run by HSBC.

[P.O.E.]

For a while there was talking of cracking down on what went into the “notes” sections of 10Qs. Don’t know what became of it, though.

[RinaseaofDs]

$140BB in exposure.

Wow, it is only the first inning.

So, what’s their plan, write down $11BB/Q for 13 more quarters?

[Tanniker Smith]

10Q ??

You're welcome.

a little math humor...

[NormsRevenge]

more acronyms than ya can shake a STIK at.. the one that gets ya in the end is DEBT. oh well, debt haPPens.

[rebel_yell2]

Worse yet, a WSJ article last week pointed out that the banks’ internal models for valuing these non-traded securities rely heavily upon credit ratings, so, when the agencies downgrade, the banks must take additional writedowns on these securities, even if nothing material has changed except the ratings agencies’ recognition of risk after the fact.

[Broker]

PING

[capitalist229]

The failures of these derivatives was calculated to be a 25 sigma event by the wonder boyz at the time that they were originally sold. That is once in the life of the universe.

Too bad it only took 5 years.

What they didn't consider was that fear is a little understood contagion.

BUMP

[Broker]

There is class of business executives that today can only be called “ROYALTY”. They are immune from Board oversight and unaccountable to stock holders. Citibank’s Chucky Prince is out off long island in his cigarette boat working out a severance deal. Will he beat O’Neil of MER or not? Who can forget Sir Todd Thompson who spent good money over Maria Barfalomo of CNBC? The aforementioned liability stats are uncomprehendably large. Yet all that institutional paper had a 5% plug for the sales guys who now like Chucky, want their year end bone us. ...vent...