{"id":193505,"date":"2008-12-11T00:08:00","date_gmt":"2008-12-11T05:08:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/12\/11\/could-auto-bailout-trigger-cds-apocalypse\/"},"modified":"2008-12-11T00:08:00","modified_gmt":"2008-12-11T05:08:00","slug":"could-auto-bailout-trigger-cds-apocalypse","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/12\/11\/could-auto-bailout-trigger-cds-apocalypse\/","title":{"rendered":"Could Auto Bailout Trigger CDS Apocalypse?"},"content":{"rendered":"<p>Because it appears that <a href=\"http:\/\/www.marketwatch.com\/news\/story\/Creation-car-czar-could-trigger\/story.aspx?guid=%7B2650E125-00B8-4C6C-8425-4DF2FA1A15AD%7D\">many of the credit default swaps (CDS) were written so that this might be the case<\/a><\/p>\n<blockquote><p> It&#8217;s this appointment of a government administrator to oversee automakers&#8217; large expenditures and asset sales that has raised the possibility of a bankruptcy event for credit-default swaps, said Banc of America Securities analyst Glen Taksler.<br \/>He noted that the International Swaps and Derivatives Association, the trade group that acts as a standard-setter for credit-derivatives trading, says one trigger for a bankruptcy credit event is the appointment of an administrator, trustee or similar official to oversee all or most of an entity&#8217;s assets. <\/p><\/blockquote>\n<p>Once again, we see how financial &#8220;innovation&#8221; has created phony money at the cost of the real economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Because it appears that many of the credit default swaps (CDS) were written so that this might be the case It&#8217;s this appointment of a government administrator to oversee automakers&#8217; large expenditures and asset sales that has raised the possibility of a bankruptcy event for credit-default swaps, said Banc of America Securities analyst Glen Taksler.He &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1108,1004],"tags":[],"class_list":["post-193505","post","type-post","status-publish","format-standard","hentry","category-auto-industry","category-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193505"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=193505"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/193505\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=193505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=193505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=193505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}