Working for an
select links to ponder:
Krugman ponders lack of leadership and consensus at G7 meeting
Naked Capitalism ponders the Lehman Bros CDS auction
Steve Hsu at Information Processing has more on Lehman CDS auction - somebody is paying a couple of hundred billion or so to other people by Oct 21 - if they don't have the cash to do so, then there will be cascading defaults due to counterparty failures. Basically people making bets without having the reserves or assets to honor them in case the bet goes bad.
Comments
Ohhhh, that last one is interesting.
Posted by: Brad | October 11, 2008 9:00 PM