ALERT: GREECE cut to SELECTIVE DEFAULT by S&P!

pin this now

DEFAAAAULT






Excellent should I collect my CDS money now?

pin this now

DEFAAAAULT






Excellent should I collect my CDS money now?

Why?

lol, looks like you're the only one that cares about this fabricated bs

it is breaking news . it is not BS.

thanks !

Hmmmmm..... SS, why did they wait till after the close?

good question. maybe not to create too much abrupt moves on the open session.

Then explain why it is important.

S&P reads GLP!

we are famous

why is this important

THE KEYWORD IS : CDS and what happens with them

then why this

Thread: Oil dropping big time!!!

Now this is a credit event!!!

Oh, The Big D word. CDS payoffs AH ho. Bye wall street and EU.

Thanks mods for the INSTAPIN as always

So when will the CDS event happen?

What default? -Your friends at ISDA

It is official policy to wait until the close of trading to release news which may create 'volatility'

Every recent downgrade has been released after hours

This is also why the FDIC always announces the banks which are folding after the close on a Friday, before the weekend

By the time the markets re-open, they hope the desks in Hong Kong and London can do the required damage control

NEVER!

Nothing. As there is no credit event. Trust me. The taxpayers will pay for Greece forever before the banks will go under.

why never revbo?

A selective default... ?

'tis but a scratch

ISDA won't declare the default. CDS will become obsolete, and nobody will buy risky sovereign bonds again. EVER.

But hey, it keeps ISDA's owners, the banks, in business for another few weeks, and that's better than having them all collapse now, right?

Last Edited by Revbo™ on 02/27/2012 04:50 PM

Clever!!!!
Nick®

People have bought bonds before CDS were created and they will buy bonds after them.

Sorry to spoil the party...

Pedro da Costa ‏ @pdacosta
S&P says will likely consider Greek default 'cured' after debt exchange, rating likely to be upgraded to CCC.

[link to twitter.com]