We'll all be millionaires by then!
Posted on 11/24/2008 8:30:14 PM PST by TigerLikesRooster
UPDATE 1-U.S. Treasury CDS hit record wides-CMA DataVision
Mon Nov 24, 2008 11:21am EST
(Adds background)
NEW YORK, Nov 24 (Reuters) - The spread or risk premium on 10-year U.S. Treasury credit default swaps hit record wide levels on Monday, prompted by worries about how the cost of rescuing banks and carmakers would affect U.S. creditworthiness, CMA DataVision said.
As the global financial crisis worsened in recent weeks, traders increased their bets on the bigger toll of the U.S. government's array of programs to help these ailing industries.
Ten-year U.S. Treasury CDS edged out to 49.8 basis points from 49.3 basis points at Friday's close, according to the credit data company.
(Excerpt) Read more at reuters.com ...
Ping!
This is when the fun really starts. Hope you enjoyed the preview.
We'll all be millionaires by then!
OMG! OMG! OMG! OMG! OMG! OMG! OMG! OMG! OMG! OMG! OMG! OMG!
All this thumb sucking over 5 / 1000th of a percent?
was letting lehman bros go down
good or bad?
Ranks up there among the worst written headlines I've ever seen. And I've seen some.
this event let the air out of the u.s. financial bubble
and eliminated the mccain presidency?
Dear Sir,
Confidential Business Proposal
Having consulted with my colleagues and based on the information gathered from the US Chambers Of Commerce, I have the privilege to request your assistance to transfer the sum of $47,500,000.00 (forty seven million, five hundred thousand United States dollars) into your accounts. The above sum resulted from an over-invoiced contract, executed, commissioned and paid for about five years (5) ago by a government contractor. This action was however intentional and since then the fund has been in a suspense account at the Federal Reserve.
We are now ready to transfer the fund and that is where you come in. It is important to inform you that as civil servants, we are forbidden to operate a treasury account; that is why we require your assistance. The total sum will be shared as follows: 70% for us, 25% for you and 5% for local expenses incidental to the transfer.
The transfer is risk free on both sides. I am an accountant with the CitiBank. If you find this proposal acceptable, we shall require the following documents:
(a) your banker’s name, telephone, account and fax numbers.
(b) your private telephone and fax numbers —for confidentiality and easy communication.
(c) your letter-headed paper stamped and signed.
Alternatively we will furnish you with the text of what to type into your letter-headed paper, along with a breakdown explaining, comprehensively what we require of you. The business will take us thirty (30) working days to accomplish.
Please reply urgently.
Best regards
Dewy Cheatem Howe
After Nov 4th, now it’s the Banana Republic of the USA
What I meant was it was the lesser of two evil between letting it go and keeping it afloat as long as possible.
So how are people preparing?
Gold ETF?
Oil ETF?
Yen ETF?
Housing investment?
I’d say we’re all screwed until the shooting starts.
Yes. This is a big deal, since UST have been regarded as riskless.
The question is whom don’t they trust, Obama or the government in general?
The change in the spread this article is about is laughable.
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