I can still remember C at $6.58 low! I really think 87 to
91 was the cliff notes version of 2000 to? We had a market
collapse, real estate boom and bust, easy money and a financial
crisis. Rember the S&L bailout and the RTC? 90 and
91 ended in a whimper when nobody cared about the financials, not a
huge capitulation and everybody rushed in. In 1990 we were
upset that the recovery rate on CCC junk bonds would be about
60%. That is the same figure that S&P revised their
recovery rate on AAA senior CDOs. As I type this, I am
watching a CNBC commercial from Merrill Lynch telling me how great
they are. I am waiting for a tag line at the end " Asking to
borrow money"
Regards,
Ralph
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80s-90s
WHO'S GOING TO BAIL OUT THE GOV'T ? IT'S NOT OVER ...
Posted by ralph on 11th of Jul 2008 at 10:17 am
I can still remember C at $6.58 low! I really think 87 to 91 was the cliff notes version of 2000 to? We had a market collapse, real estate boom and bust, easy money and a financial crisis. Rember the S&L bailout and the RTC? 90 and 91 ended in a whimper when nobody cared about the financials, not a huge capitulation and everybody rushed in. In 1990 we were upset that the recovery rate on CCC junk bonds would be about 60%. That is the same figure that S&P revised their recovery rate on AAA senior CDOs. As I type this, I am watching a CNBC commercial from Merrill Lynch telling me how great they are. I am waiting for a tag line at the end " Asking to borrow money"
Regards,
Ralph