2008 Redux

svntn

2008 Redux
Submitted by Tyler Durden on 08/10/2011 17:56 -0400




From Peter Tchir

Since this morning’s rant or comment, I have been informed of several other similarities:

•         No matter how far down we go, people are more concerned about missing a rally than the risk of another down leg
•         Bank CEO’s go on TV to calm shareholders and send letters to employees and the market reacts negatively
•         Rating agencies issue long lists of credit downgrades, MBS and CMBS then, sovereign and municipal debt related now
•         Pressure in the short term funding market are being talked about
•         No one can understand why CMBS isn’t down more
•         CDS is once again a 4 letter word
•         Mortgage Insurers (PMI) are back in deep trouble.
•         Fannie Mae is not government guaranteed.  Owned, yes, guaranteed, no.