The True Story behind Merrill's result and the markets explained Monday, October 29, 2007
This excellent analysis (yet to be shown on Bloomberg for some reason) is mandatory viewing for anyone trying to understand the fundamentals behind the turbulence in the credit markets over the Summer.
It unpicks the "apparent" mystery of SIVs in the sub-prime market for the layman who may be worried by the impact of the financial meltdown on their pension and analyses the rationale for government intervention in the market liquidity crisis.
Some of the insights were apparently shared with the Merrill's Board over the weekend, which was the firm that had called in the collateral on the Bear Stearn's Hedge Funds in July, precipitating their collapse.
Job done John.
Labels: bear stearns, humour, market data, markets
posted by John Wilson @ 11:17 PM Permanent Link
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