whatever it takes
Global Economic Crisis Unfolding
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As I am writing this, there is an economic bloodbath in the Asian stock markets as a result of the plunge yesterday in the US markets. One of the most troubling developments is the impending demise of the two main Bond Insurers, Ambac and MBIA. These two companies underwrite a large number of corporate and municipal bonds in the US market.
Just last Friday, Ambac lost its AAA rating, and it is expected that there will be further downward adjustments. In short, this will mean a loss of about $45 trillion in value in the credit derivative market in the coming days. Read the story here and do what you can to protect yourself from the coming collapse.
| Print article | This entry was posted by Warren on January 22, 2008 at 7:33 am, and is filed under Blog, Uncategorized. Follow any responses to this post through RSS 2.0. You can leave a response or trackback from your own site. |