本文发表在 rolia.net 枫下论坛A few days ago, Buffett made an offer to bond insuarer, many people applauded he came to save the market. The fact is he wanted to take away the most profitable business from those trapped bond insuarers. 按我们国人的说法，就是趁人之危. So one of them rejected Buffett immediately.
On Friday, it was reported 8 banks will stand out to bail out ABK. Are they saving the market? No. Why are they so nice? Actually, they are saving themselves. If ABK loses its AAA ratings, these banks will lose huge. So they were forced to contribute money to this save plan. Don't forget most of these banks have a big credit crunch themselves.
This reminds me of the LCTM story in 1998. Nine banks on the Waal Street were brought together by Rubin to contribute the money to bail out LCTM. Two of them were very unhappy, because they did not invest in lCTM. But they finally agreed to make a contribution, because the complete liquidation of LCTM would hurt them too.
One thing is for sure. The bailout of ABK will save a big sell-off.更多精彩文章及讨论，请光临枫下论坛 rolia.net
On Friday, it was reported 8 banks will stand out to bail out ABK. Are they saving the market? No. Why are they so nice? Actually, they are saving themselves. If ABK loses its AAA ratings, these banks will lose huge. So they were forced to contribute money to this save plan. Don't forget most of these banks have a big credit crunch themselves.
This reminds me of the LCTM story in 1998. Nine banks on the Waal Street were brought together by Rubin to contribute the money to bail out LCTM. Two of them were very unhappy, because they did not invest in lCTM. But they finally agreed to make a contribution, because the complete liquidation of LCTM would hurt them too.
One thing is for sure. The bailout of ABK will save a big sell-off.更多精彩文章及讨论，请光临枫下论坛 rolia.net