#Links
Kerviel had a trading deficit of 2.2 billion euros as early as June last year
A computer expert appointed by Mr. Kerviel’s lawyer says he had been showing steep losses much earlier in 2007.
UBS Won’t Support Failing Auction-Rate Securities
Our credit is good, our ratings are good, our bond insurer is unscathed, and it still happened, 80 percent of all auctions of bonds sold by cities, hospitals and student loan agencies were unsuccessful yesterday.
What is an Auction Rate Security?
Auction Rate Securities are securities with long-term maturities that are structured with short-term holding periods. A Dutch Auction takes place at the beginning of each holding period, which determines the coupon/dividend.
Dismal Science Indeed
Predicting recessions is a tricky business. What are the odds that the United States will enter a recession? No, scratch that: What are the odds that the United States will enter a recession next month? According to New York Fed economist Arturo Estrella, the odds are 0.40965, give or take a millionth of a decimal point.
Eight Thought on Our Fragile Debt Markets
Solvency Worries Stalk Credit Derivatives Market
MBIA vs. Shorts: They’re Kidding, Right?
MBIA says Ackman’s model has major deficiencies
MBIA Releases Text of Letter Sent to Regulators on ‘Open Source Model’