Funky Financials

The financials are trading like hell today and CDS are blowing out. I am not certain what the cause is. There doesn't seem to be any major news out but the news may be forthcoming.

3 comments:

Anonymous said...

try the mortgage foreclosure system clogging with an unknown percentage of rmbs having no legal claim on the underlying collateral

Tsachy Mishal said...

But why suddenly today? This news has been out.

Anonymous said...

The crisis is snowballing. The fact that JPM is backing away from MERS is important, and the attack by 49 attorneys general suggests that this will not just get "fixed" by congress and the executive branch. THis could be like the cracking of the financials in 2008--they were up massively in July and August on absurd hopes, and then when they started to slide downhill it took a while for them to pick up speed.