That sound you hear is that of a number of fund managers testicles rising up into their throats. The risk of credit default swaps (think of it as insurance on a drop in bond value) for bonds linked to these firms is nearing that of junk according to Moody's. So let's look at it logically...if your debt is living in craporama land, then your earnings and - by definition - your share price ain't far behind. Paul, Isaac, Nick, Tony B, Tony S., Michael N., Robert...better buy those Lambos now and top up your 401K, those bonuses may need to last a while...
Goldman Sachs, Merrill Lynch and Morgan Stanley almost `Junk'...according to their own traders
Current Status: Blessed (1)
Seeded on Sat Mar 3, 2007 8:48 PM
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