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silvernut

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LEH CDS Settlement

posted on Oct 10, 2008 07:40AM

Today is settlement day and looks like FEDS are watching closely. They are settling at about 9.75% and looks like this $400 billion will be obsorbed today. Results will come out at 2:00 pm. Hopefully, the equity market will stabilize next week after this mess.

The guys that made fortunes on CDS's and created this liablity will be persecuted and prosecuted. Still won't make me feel any better. Crooks always beat the system and will do it again.