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Another “day of reckoning” for battered markets may be coming later this week.
Financial experts are closely - and nervously - eyeing Tuesday as a major test of the strength of credit markets as major Wall Street firms are forced to pony up billions of dollars in payments for “credit default swaps” tied to the collapse last month of Lehman Brothers.
No one is quite sure how much money is owed by those who sold the complicated investment contracts, which basically are insurance agreements tied to Lehman’s bonds and Lehman’s ability to pay off those debts.
The contracts - which are part of a $54 trillion-dollar market for credit-default swaps - went into default after Lehman declared bankruptcy Sept. 15.
Was poking around on the Google Finance blogs and a few seem worried about this. Some are calling for a total implosion Tuesday. I don't agree, I think it will be a bad day for WS but not what some posters there are calling for.
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Also .....When everyone is expecting something to happen
the opposite happens.
Contrarian Investing 101.
Wall Street and the international markets have been impossible to predict the last 4 weeks. There is talk by some that a bottom has been reached and others are saying there will be another big fall before the real bottom comes.
I guess historically, when the Dow seems to bottom after a big sell off, there is a sharp rise for a period (like the past few days) and then one more big sell off.
If nothing happens tomorrow, there is no reason to believe we won't have another big sell-off.
I do... Watch the oil prices spike again in the near future...
Those who insist the recession will be shallow and brief have incentive to say that... Global response to this crash indicates something quite different...
So you believe some media sources are stupid enough to lie in hopes they can affect the market in a positive way? If your answer is yes, then we agree. So Barron's publishes an article motivated by the arrogance & greed that what they say can actually have an effect upon market trends.
In my opinion, it should be illegal to purposefully lie in order to affect the market. I know it would be impossible to enforce, but I really get sick & tired of media people and gov't officials lying to keep the markets from declining.