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Direxion Daily Financial Bear 3X Shares Message Board

  • quailrunrd quailrunrd Jun 11, 2009 2:23 PM Flag

    Uh oh, more bank problems. Just out

    "Not only has the housing market stalled, with new mortgages and refinanced loans hitting a brick wall. The other major threat is to the Interest Rate Swap, those powerful credit derivative contracts that tie together the bond world in complex knitting. The instability of USTreasurys on the long maturity (10-year & 30-year) and on the short maturity (so far just the 2-year) will surely unleash great firestorms of disruption, heavy losses, and raging fires for the big banks. It is next! It will be the greater second chapter to the Credit Default Swap opening salvo. Twice as many IRSwaps exist than CDSwaps, a story that bankers refuse to discuss."

    http://financialsense.com/fsu/editorials/willie/2009/0611.html

 
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