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Stock Market could drop 2000 Points today if Greece Defaults (90% chance of Greece Defaulting in the next 36 Hrs)

 
Anonymous Coward
User ID: 1495969
Iraq
09/12/2011 09:05 AM
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Stock Market could drop 2000 Points today if Greece Defaults (90% chance of Greece Defaulting in the next 36 Hrs)
A 2000 point drop would be awful. I really don’t think we would be able to rebound from even a 1000 point drop right now. I will find the link to the story and post it.wtf
Anonymous Coward (OP)
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Iraq
09/12/2011 09:06 AM
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Re: Stock Market could drop 2000 Points today if Greece Defaults (90% chance of Greece Defaulting in the next 36 Hrs)
LONDON (AP) -- Mounting fears over the possibility of a Greek debt default and signs of division within Europe's policymaking circles over how to deal with the crippling crisis combined Monday to send bank stocks sharply lower.
Anonymous Coward
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09/12/2011 09:07 AM
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Re: Stock Market could drop 2000 Points today if Greece Defaults (90% chance of Greece Defaulting in the next 36 Hrs)
bump
Anonymous Coward (OP)
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Iraq
09/12/2011 09:08 AM
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Re: Stock Market could drop 2000 Points today if Greece Defaults (90% chance of Greece Defaulting in the next 36 Hrs)
After almost two years of fighting to contain the region’s debt crisis and providing the biggest share of three European bailouts, German Chancellor Angela Merkel is laying the groundwork for what markets say is almost a sure thing: a Greek default.

Link: [link to finance.yahoo.com]
Anonymous Coward
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09/12/2011 09:10 AM
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Re: Stock Market could drop 2000 Points today if Greece Defaults (90% chance of Greece Defaulting in the next 36 Hrs)
Thanks OP, 5 stars
Anonymous Coward
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09/12/2011 02:11 PM
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Re: Stock Market could drop 2000 Points today if Greece Defaults (90% chance of Greece Defaulting in the next 36 Hrs)
And the DOW is -159. And on Yahoo it says Greece has a 98% chance of defaulting.

Red alert!
Anonymous Coward
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09/12/2011 02:13 PM
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Re: Stock Market could drop 2000 Points today if Greece Defaults (90% chance of Greece Defaulting in the next 36 Hrs)
DOOM ON
Anonymous Coward
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09/12/2011 02:20 PM
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Re: Stock Market could drop 2000 Points today if Greece Defaults (90% chance of Greece Defaulting in the next 36 Hrs)
I would bet my left nut that Ben and or Tim are on the phne right now working on a sweet heart deal to stem the mess going on in the EU .

I think the EU will announce a huge amount of liquidity injection to the system... See if the can talk th EU into cranking up their printers, then Ben can hit his printers one more time..

It's a deal that Ben and company MUST sell... This will be a do or die for him..
Anonymous Coward
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Switzerland
09/12/2011 02:26 PM
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Re: Stock Market could drop 2000 Points today if Greece Defaults (90% chance of Greece Defaulting in the next 36 Hrs)
IRAQ: Are you a GI, yes you are...Why don't you disclose some wikileaks type info, so that GLP gets a real scoop.
Anonymous Coward
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09/12/2011 02:28 PM
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Re: Stock Market could drop 2000 Points today if Greece Defaults (90% chance of Greece Defaulting in the next 36 Hrs)
Keep your powder dry. This could be another "once in a lifetime" opportunity to buy some great stocks cheap (i.e. Canadian banks, for one. Even when Royal Bank (RY-T) was something like $25 in the depths of the recession they did not cut their tasty dividend, and the price rebounded to more than double that, although it's come off somewhat lately...)

I know I've got cash sitting on the sidelines to just waiting rebalance my various index funds once the market finds a bottom.
Anonymous Coward
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09/12/2011 02:29 PM
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Re: Stock Market could drop 2000 Points today if Greece Defaults (90% chance of Greece Defaulting in the next 36 Hrs)
Not gonna happen. Maybe 700 points at very worst, but trading will be shut down before it can get to even 1000 points.
Anonymous Coward
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09/12/2011 02:32 PM
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Re: Stock Market could drop 2000 Points today if Greece Defaults (90% chance of Greece Defaulting in the next 36 Hrs)
Keep your powder dry. This could be another "once in a lifetime" opportunity to buy some great stocks cheap (i.e. Canadian banks, for one. Even when Royal Bank (RY-T) was something like $25 in the depths of the recession they did not cut their tasty dividend, and the price rebounded to more than double that, although it's come off somewhat lately...)

I know I've got cash sitting on the sidelines to just waiting rebalance my various index funds once the market finds a bottom.
 Quoting: Anonymous Coward 1283316


Royal Banks derivative holding is:
Royal Bank ($624 billion assets) ; $4.8 trillion total derivatives ; $4.3 trillion OTC derivatives

Guaranteed to lose everything..
Anonymous Coward
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09/12/2011 02:33 PM
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Re: Stock Market could drop 2000 Points today if Greece Defaults (90% chance of Greece Defaulting in the next 36 Hrs)
Royal Bank ($624 billion assets) ; $4.8 trillion total derivatives ; $4.3 trillion OTC derivatives

TD ($432 billion assets) ; $2.4 trillion total derivatives ; $2.1 trillion OTC derivatives

BMO ($387 billion assets) ; $2.7 trillion total derivatives ; $2.0 trillion OTC derivatives

Scotiabank ($429 billion assets) ; $1.3 trillion total derivatives ; $1.2 trillion OTC derivatives

CIBC ($344 billion assets) ; $1.2 trillion total derivatives ; $1.1 trillion OTC derivatives

You are probably wondering how to read this or what to make of it. In my opinion -- and this is only a generalization -- OTC derivatives are the messiest instruments and have the most potential to cause significant damage in adverse conditions. These banks have trillions in derivatives, and only billions in equity so there can be very severe problems if there are even small losses in those derivative portfolios. Royal Bank clearly has the most exposure, with over $4 TRILLION in over-the-counter traded leveraged instruments.
Anonymous Coward
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09/12/2011 02:34 PM
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Re: Stock Market could drop 2000 Points today if Greece Defaults (90% chance of Greece Defaulting in the next 36 Hrs)
I would bet my left nut that Ben and or Tim are on the phne right now working on a sweet heart deal to stem the mess going on in the EU .

I think the EU will announce a huge amount of liquidity injection to the system... See if the can talk th EU into cranking up their printers, then Ben can hit his printers one more time..

It's a deal that Ben and company MUST sell... This will be a do or die for him..
 Quoting: Anonymous Coward 1472438


Americans will give them billions more of fake money and like it.

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