Paranoid Bull

Apparently there may be up to $360B dollars in losses tomorrow as the auction for the Lehman CDS contracts are settled according to this Reuters article: Lehman CDS sellers face massive losses in auction Banks, hedge funds and other sellers of protection on Lehman Brothers’ debt are facing losses in the area of 90 percent [...]

Rather than trying to fit all of my thoughts into a blog post, I took a shot at creating a video blog post explaining where we are in the crisis, reiterating what I see as the causes and where we should go from here. addthis_url = ‘http%3A%2F%2Fparanoidbull.com%2F2008%2F09%2Fthe-crisis-where-are-we-today%2F’; addthis_title = ‘The+Crisis%3A+Where+Are+We+Today%3F’; addthis_pub = ”;