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Old 10-10-2008, 04:30 PM   #5
gwynned
Avalon Senior Member
 
Join Date: Sep 2008
Posts: 88
Default Re: Lehman Brothers CDS Auction

Quote:
Originally Posted by Merlyn View Post
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Lehman Brothers (Oct 10) and also coming up Washington Mutual (Oct 23) ==
Geeze, is it me or is it really that hard to wrap your head around all this. But if I can attempt to cut to the chase perhaps too quickly, does it all boil down to the fact that a lot of banks/institutions owe a lot of other banks/institutions a boat load of money and (1) no one knows really how much money; (2) no one knows the price at auction so they can't quantify the debt; and (2) nobody knows for certain who will be holding the bag after one of these auctions.
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