Monday, March 09, 2009

Finally, a little clarity on the top 5 Banks exposure to Credit Default Swaps

Finally, a little clarity on the top 5 Banks exposure to Credit Default Swaps, written about here. It's a pretty well written article covering most of the bases, although, these things are still off the books transactions, and it's all still vaguely unverifiable, but it gives you a sense of why these banks will go under, or be taken over by the FDIC this year. Citibank is becoming revealed as a more difficult situation, since it turns out that Citigroup itself is insolvent and the FDIC might not have jurisdiction over the parts of Citigroup that aren't Citibank.

Wait and see, I guess.

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