tag:blogger.com,1999:blog-4921988708619968880.post3078645945176346348..comments2024-02-28T22:03:57.237-05:00Comments on The Automatic Earth: Debt Rattle, March 15 2008Ilargihttp://www.blogger.com/profile/09698428009501267664noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-4921988708619968880.post-75142068884314744532008-03-16T04:38:00.000-04:002008-03-16T04:38:00.000-04:00The Canadian finance folks just couldn't believe t...The Canadian finance folks just couldn't believe the impending implosion. They (I'm guessing) looked at it and said "If this is the case what I do has no value."<BR/><BR/> I meet a lot of people these days for whom the light is starting to come on ... the local coffee shop owner who'd been ignoring her adult son's pronouncements of financial doom sat and listened to me for half an hour as I .https://www.blogger.com/profile/03915219261001181341noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-31131710817479666882008-03-15T23:49:00.000-04:002008-03-15T23:49:00.000-04:00I think Mish's point is that it's taken 7 months ....I think Mish's point is that it's taken 7 months ... to get it into the courts. How much longer is it going to take in the courts? I don't know how long a cut and dried 'Chaper 11' normally takes but this one surely will take longer than average. In the mean time, other credit events continue to occur, presumably impacting negatively on market value of any debt eventually coming to market, <I>Farmerodhttps://www.blogger.com/profile/03492165772535123915noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-50606484900014185802008-03-15T21:34:00.000-04:002008-03-15T21:34:00.000-04:00I think Mish has misunderstood. The bankruptcy mov...I think Mish has misunderstood. The bankruptcy move is used to protect and restructure the assets, as well as to force a vote.<BR/><BR/>The National Post article says:<BR/><I>"The move would essentially use Canada's bankruptcy laws to restructure the 20 trusts and then force a vote on the plan. The committee had planned to make the court filing by Friday afternoon to facilitate the implementationIlargihttps://www.blogger.com/profile/09698428009501267664noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-49179925529128483822008-03-15T21:06:00.000-04:002008-03-15T21:06:00.000-04:00Mish...I proposed last summer the plan dump its AB...<A HREF="http://globaleconomicanalysis.blogspot.com/" REL="nofollow">Mish</A><BR/><BR/><I>...I proposed last summer the plan dump its ABCP assets as soon as possible to get what they could. Instead the plan was frozen in a bureaucratic boondoggle in which they hoped to convert short term paper in to long term paper. Now, seven agonizing months later, the plan seeks a different solution: Farmerodhttps://www.blogger.com/profile/03492165772535123915noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-25800762688524985212008-03-15T20:56:00.000-04:002008-03-15T20:56:00.000-04:00Madhatter, How I get to the comments is by using m...Madhatter, How I get to the comments is by using my word-search and entering the previous day, for instance if you use 'March 14' it will take you to the comments for march 15. <BR/><BR/>About things to do or not do if the S HTF, If you can avoid being pressed into military service then I would say the peasant life would be a 'best bet'. "Princes don't murder the peasants they murder each Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-301546976848229142008-03-15T17:29:00.000-04:002008-03-15T17:29:00.000-04:00Hi madhatter,Thanks for asking. Sounds like we're...Hi madhatter,<BR/><BR/>Thanks for asking. Sounds like we're similar, though I don't know if my thoughts are useful. My wife is absolutely furious at TPTB. All her life she's been practical, saving, and prudent--she's got the best common sense judgment of anyone I know. Now, she feels that she'll suffer the indulgences of fools--and she doesn't suffer fools.<BR/><BR/>We look at the future Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-8776958040143549332008-03-15T17:12:00.000-04:002008-03-15T17:12:00.000-04:00“Leading the list of companies that saw the prices...“Leading the list of companies that saw the prices of their CDS (default protection) surge significantly this week were <I>GMAC, Bear Stearns, Ford, Sallie Mae, Countrywide, and Lehman Brothers</I>. These six companies combine for (as of their most recent financial statements) Total Assets of almost $2.0 TN, supported by Shareholders Equity of about $75bn. Or, stated differently, these six Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-17731888753787782462008-03-15T16:58:00.000-04:002008-03-15T16:58:00.000-04:00It's too bad the name US Bank is already taken. I...It's too bad the name US Bank is already taken. I'm having visions of that name on top of every bank building in America.<BR/>KalpaAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-34349284019225654992008-03-15T16:32:00.000-04:002008-03-15T16:32:00.000-04:00madhatter,If you click the "Debt Rattle" header fo...madhatter,<BR/><BR/>If you click the "Debt Rattle" header for the specific day you get only that specific blog entry on the page. Then just scroll down to bottom of page to find the comments.<BR/><BR/>I too had difficulty finding the comments until I figured that out.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-2613536592286567442008-03-15T14:42:00.000-04:002008-03-15T14:42:00.000-04:00By comparing this situation to the “Bulgaria” mode...By comparing this situation to the “Bulgaria” model, aren't you insulting even the Bulgarians?<BR/><BR/>They have feelings too. Ha<BR/><BR/>None of this will ever 'stabilize' until the concept of accountability is restored to the public domain in some credible form.<BR/><BR/>Confidence is accountability.They are joined at the hip.<BR/><BR/>The public has the attention span of a small rodent, but Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-10404614315562977572008-03-15T14:38:00.000-04:002008-03-15T14:38:00.000-04:00To Ric (assuming you check this site daily like I ...To Ric (assuming you check this site daily like I do)<BR/> My wife and I were talking last week and after reading the attached blog, <A HREF="http://www.frugalsquirrels.com/cgi-bin/ubb/ultimatebb.cgi?ubb=get_topic;f=1;t=044387;p=1" REL="nofollow">Surviving If the SHTF</A> we figured that if the S really HTF we are hooped. There are a number of "precautions" that we are just not prepared and/or madhatterhttps://www.blogger.com/profile/10378517182985147165noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-53365367080340197322008-03-15T13:01:00.000-04:002008-03-15T13:01:00.000-04:00I & S: You presented the Chalmers Johnson piece so...I & S: You presented the Chalmers Johnson piece somewhere indicating most of U.S. production is already for war interests, didn’t you? It’s been the de facto industrial policy since at least World War Two. Most production is already “nationalized” in that way, the “Bulgaria” model for finance just completes the picture. The same bastards who spun the free market will now work against their own Bigelowhttps://www.blogger.com/profile/16883913065391637120noreply@blogger.comtag:blogger.com,1999:blog-4921988708619968880.post-58584393107067520312008-03-15T12:11:00.000-04:002008-03-15T12:11:00.000-04:00Grey ZoneFrom yesterday. You got it, Lehman is the...Grey Zone<BR/>From yesterday. You got it, Lehman is the most likely next short to zero.<BR/><BR/>When the canary sings down under and in Asia you got about 5 minutes to buy the sure thing lottery tickets.VLADhttps://www.blogger.com/profile/07303463697333210934noreply@blogger.com