Tags: Credit + Economy + investing + LIBOR + Mortgages
LIBOR, the London Interbank Offering Rate, is broken and must be fixed. It seems that participating banks that set the LIBOR are reporting mysteriously divergent borrowing costs. UBS for example, which has reported $38 billion in write-offs related to the mortage crisis, has
May 27, 2008 - Economy, Markets - 0 Comments
Tags: Ambac + Credit + FGIC + MBIA + municipal bonds + munis
Last week the credit markets seized up again when institutional investors declined to buy Muni bond and Preferred stock debt at any price. The Auction Rate Securities market is the market where interest rates are regularly re-set on long term Muni and Preferred debt
February 18, 2008 - Markets - 0 Comments
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