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Originally posted by DanS
Well, it looks like those rumors were right.
Well, it looks like those rumors were right.
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Ya just never know what you will end up hearing when you know low people in big buildings.
"I am sick and tired of people who say that if you debate and you disagree with this administration somehow you're not patriotic. We should stand up and say we are Americans and we have a right to debate and disagree with any administration." - Hillary Clinton, 2003 -
Yesterday, the WSJ mentioned that if both Moody's and S&P cut AIG's rating by a single notch, then the company will have to offer an additional $18 billion in collateral to its creditors.
I'd imagine that would just about finish most companies in this environment.
Is AIG Fed rescue-worthy?I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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AIG has some pretty huge reserves on the insurance side. I'm not sure if they exceed regulatory requirements there or even if they legally could move some of that money around.
They are pretty diversified though. It wouldn't suprise me if they could come up with the cash. Just don't know the answer there."I am sick and tired of people who say that if you debate and you disagree with this administration somehow you're not patriotic. We should stand up and say we are Americans and we have a right to debate and disagree with any administration." - Hillary Clinton, 2003Comment
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Why aren't there any European banks failing (AFAIK)?
I thought they took over lots of those subprime loans from Americans or something?Comment
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WM is the next to go out.Comment
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Exposures are not as significant, More central bank support, less regulatory capital requirements, and most importantly...sane accounting rules.Originally posted by Maniac
Why aren't there any European banks failing (AFAIK)?
I thought they took over lots of those subprime loans from Americans or something?"I am sick and tired of people who say that if you debate and you disagree with this administration somehow you're not patriotic. We should stand up and say we are Americans and we have a right to debate and disagree with any administration." - Hillary Clinton, 2003Comment
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Very likely. They are hurting.Originally posted by One_more_turn
WM is the next to go out."I am sick and tired of people who say that if you debate and you disagree with this administration somehow you're not patriotic. We should stand up and say we are Americans and we have a right to debate and disagree with any administration." - Hillary Clinton, 2003Comment
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Hadn't checked them today. Down 28% today. Looks like they're toast.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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I'm not so convinced that Europe is out of the woods, even if the ECB is pumping cash hard into the banks. As one example, if UBS has another quarter like last quarter, it's toast. This is not expected, but...Originally posted by Maniac
Why aren't there any European banks failing (AFAIK)I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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They should have been toast months ago. I'm not really sure how they have hung on this long. Long Beach had a hugely negative effect on their balance sheet and they are heavily invested in California real estate.Originally posted by DanS
Hadn't checked them today. Down 28% today. Looks like they're toast."I am sick and tired of people who say that if you debate and you disagree with this administration somehow you're not patriotic. We should stand up and say we are Americans and we have a right to debate and disagree with any administration." - Hillary Clinton, 2003Comment
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UBS came clean pretty early with most of their problems. Conventional wisdom is that they have seen the worst of it. HSBC on the other hand.....Originally posted by DanS
I'm not so convinced that Europe is out of the woods, even if the ECB is pumping cash hard into the banks. As one example, if UBS has another quarter like last quarter, it's toast. This is not expected, but..."I am sick and tired of people who say that if you debate and you disagree with this administration somehow you're not patriotic. We should stand up and say we are Americans and we have a right to debate and disagree with any administration." - Hillary Clinton, 2003Comment
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I don't know the answer either. The company's assets are about a trillion dollars. But $18 billion is a lot of collateral to move, even against a trillion dollars.Originally posted by PLATO
AIG has some pretty huge reserves on the insurance side. I'm not sure if they exceed regulatory requirements there or even if they legally could move some of that money around.
They are pretty diversified though. It wouldn't suprise me if they could come up with the cash. Just don't know the answer there.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Let the good times roll!Comment
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Yeh, you've got to wonder about the Brit banks, once the UK real estate market starts plummeting in earnest. Their real estate market was much more insane than the US real estate market.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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HSBC would be in deep trouble if the Brit market collapsed. The problems that HSBC has had with the Housdehold purchase and with Decision One have been bad enough. I would think that they would get assistance from both the Bank of England and The Bank of China if push came to shove.Originally posted by DanS
Yeh, you've got to wonder about the Brit banks, once the UK real estate market starts plummeting in earnest. Their real estate market was much more insane than the US real estate market."I am sick and tired of people who say that if you debate and you disagree with this administration somehow you're not patriotic. We should stand up and say we are Americans and we have a right to debate and disagree with any administration." - Hillary Clinton, 2003Comment
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