Yes, but last Friday Cramer let us know that "his people," were going to lose their jobs and that is it was horrible.
The truth generally lies somewhere between the extremes.
Nothing like "Stable" Markets...
Started by
SemiBizz
, Aug 08 2007 03:07 PM
11 replies to this topic
#11
securelstmile
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- Banned
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Posted 08 August 2007 - 05:45 PM
The harder I work, the luckier I get.
#12
ogm
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- Traders-Talk User
- 13,780 posts
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Posted 08 August 2007 - 05:50 PM
Well, the first few tranches of the CDO must be wiped out completely before the last few tranches will get hurt.
with 1% default rate.. this isn't going to happen. Its not even going to happen with 10% default rate. Yes someone will bite a big one on the lowest rated tranches, but thats it.
Chineese know the dollar is crap.. but they will do anything to keep the US economy afloat... at least for now.
They have too much to lose. So they are willing to finance the US.
They are holding their hand on the plug, while they are building their Empire. One day they may pull the plug... but not yet.
