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Tag(s): Economy Recession; Economy-Economics- US; Economy-Economics- World; People; People; Trades
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January 22, 2008 at 00:02:18

Headlined on 1/22/08:
World's Largest Bond Insurers Collapsing?

by George Washington Page 1 of 1 page(s)

www.opednews.com

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The Wall Street Journal on Friday said:

"The turmoil on Wall Street is beginning to rock a foundation of the financial system: the ability of institutions to make good on their many trades with one another.
"Today, a struggling bond insurer, ACA Financial Guaranty Corp., will ask its trading partners for more time as it scrambles to unwind more than $60 billion of insurance contracts it sold to financial firms but can't fully pay off, according to people familiar with the matter. The contracts were intended to protect Wall Street firms from losses on mortgage securities and other debt they own.

"The problem is that the insurer itself is teetering - with repercussions across the financial world."

But that's not the scariest part. According to a fairly well-known financial analyst, ACA Financial is a small-time player. However, he says that the world's two largest bond insurers are also collapsing.

If he's right, the effects on the bond market may be even more serious than the mortgage and stock market crashes.

Please read his article, check out his credentials, and then decide for yourself.

http://georgewashington.blogspot.com/

George Washington

George Washington is a pen name. I am using the pen name, with the approval of the publisher, because I have received death threats due to my 9/11 research and writing. I am using a pen name to protect myself and my family.

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2 comments

Virginia Simson is a spiritual journalista/activist who runs a visionary planetary tutorial blogspot, www.ladybroadoak.blogspot.com as well as a blog on the uranium industry and depleted uranium at www.lowlevelradiation.blogspot.com. She feels that we must educate the young as to the real issues of the day - economics, clean energy, a drug free lifestyle, friendship and concern for the environment. We must plan for seven generations in the future. She unconditionally supports impeachment and...

to see more of bio, click on member name
ladybroadoakVirginia Simson is a spiritual journalista/activist who runs a visionary planetary tutorial blogspot, www.ladybroadoak.blogspot.com as well as a blog on the uranium industry and depleted uranium at www.lowlevelradiation.blogspot.com. She feels that we must educate the young as to the real issues of the day - economics, clean energy, a drug free lifestyle, friendship and concern for the environment. We must plan for seven generations in the future. She unconditionally supports impeachment and...

to see more of bio, click on member name

Gotta remember THIS in any assessment

much of the software sold to these financial entities is marketted by . ah .. Goldman Sachs. GREAT SCAM. They made this invincible image for themselves for PROFITABILITY and then went out and flogged new financial software packages no one can fathom in the least.

There is NO market regulation, no one's probably going to get hip and if they did, CONgress will surely NOT pass any laws about THAT. What I have watched being accomplished by Goldman Sachs over the past couple of years is simply staggering. A good google of Goldman Sachs is in order for people who do not realize how vast their sphere of influence is.

We have seen nothing yet . the sell offs on the market so far are the smaller trades" the big ones are having to wait for CEO, Board of Director approval.

With US dollar HEGEMONY this was a total global collapse in the making; any fool could see if they had read anyone reputable on GLOBALISM. Some smaller "players" may have a great advantage in the coming market cuz they can get in and out of some action fast - but for the financial biggies it is totallly disaster . and since the COMMERCIAL real estate market is gonna falll out - they are real TOAST.

The press is LIEING and covering up everything.

I've been following many financial analyists over the past three years - I have my favorites. One guy I follow was a financial journalist for years and he started a very good blog. HE has a conscience, many of these guys do not. The majority are of them are gonna get SIDE TRACKED cuz they do not know what to look for.

The head of the IMF is doing another interview at 7:30 pm and he can make or break the US then ... or somewhere down the road. He is NO FAN of the US; they played their financial power game too aggressively for those with a stake in europe.

Too bad that that Hank Paulson, his plunge protection team and Nancy Pelosi (yes, NANCY) couldn't do the right thing. The economic stimulus package is just a thinly disguised number of tax cuts for .. business and a few paltry dollars in "refund checks".

Pension funds, insurance funds . it's all gonna go.

This was all predictable, and Dr. Michael Hudson wrote about the coming consequences in the popular magazine, Harper's in May, 2006. How it was set up and what's a gonna happen. It is true tragedy he won't be helping out a Dennis Kucinich presidency in all probabilty. He'd be the top economic adviser in such a case.

by ladybroadoak (38 articles, 20 quicklinks, 12 diaries, 391 comments) on Tuesday, January 22, 2008 at 3:07:21 PM