I’ll try to explain, but rather than just write a huge dissertation, I’d like to answer only what is confusing or not clear.
What needs to be explained?
What exactly is being auctioned off? Credit default swaps? What are they?
If even that needs a dissertation you don’t have to really bother. I will find the time to sit down and do the reading and research myself.
The last few months have opened up a whole new world for me. Even though I have worked in business consulting on project finance, this incredible array of activities within global finance leaves me gobsmacked.
So these credit default swaps... :-)
Anyways, have a nice weekend. I have appreciated your perspective on other threads lately.
Cheers.
Maybe you could ‘splain this:
Before the Mess started, my holdings had $53K+ of Lehman. As of last week, it was at $2,300. Big loss. My question is, how does this latest information affect my situation?