{"id":194265,"date":"2008-10-11T19:23:00","date_gmt":"2008-10-12T00:23:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/11\/well-now-we-know-what-the-sh-pile-is-worth\/"},"modified":"2008-10-11T19:23:00","modified_gmt":"2008-10-12T00:23:00","slug":"well-now-we-know-what-the-sh-pile-is-worth","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/11\/well-now-we-know-what-the-sh-pile-is-worth\/","title":{"rendered":"Well, Now We Know What the Sh%$ Pile is Worth"},"content":{"rendered":"<p><a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601087&amp;sid=ainXunmcK3kw&amp;refer=home\">8.625\u00a2 on the dollar<\/a>!<\/p>\n<p>Lehman&#8217;s Credit Default Swaps (<span style=\"font-weight: bold;\">CDS<\/span>) lost 91.375% off of face value, which is lower than even I expected, I was expecting about 15\u00a2 on the dollar.<\/p>\n<p>So now we have a market price on these assets.<\/p>\n<p>Based on the size of the CDS market, this means that losses are well in excess of world GDP.<\/p>\n<p>This is not a liquidity issue.  This is an insolvency issue.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>8.625\u00a2 on the dollar! Lehman&#8217;s Credit Default Swaps (CDS) lost 91.375% off of face value, which is lower than even I expected, I was expecting about 15\u00a2 on the dollar. So now we have a market price on these assets. Based on the size of the CDS market, this means that losses are well in &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1004,1089,1164],"tags":[],"class_list":["post-194265","post","type-post","status-publish","format-standard","hentry","category-economy","category-finance","category-recession","category-teotwawki"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194265"}],"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=194265"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194265\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}