Greek CDS market fallout?

[pmbug]

You may recall how the MF Global scandal lead Ann Barnhart to abandon her business. Looks like the ISDA's handling of the Greek CDS market is having a similar effect:

 

[DoChenRollingBearing]

¨Greece¨has been the word for two years now... I wonder just how far down the rabbit hole this goes. And then who´s next? Portugal and Ireland I have about being next. And then the BIG ENCHILADAS Spain and Italy. If Italy goes, then FRANCE goes, and it´s all over.

FRANCE goes down, you have maybe two days to make and get your final preps...

 

[DCFusor]

I think if any of the spanish speaking ones go, that's going to topple the other dominoes - just a matter of (short) time. In general, they're too big to bail w/o hyperinflation.

 

[DSAbug]

I would have sold the underlying asset and the CDS a LONG time ago.

 

[bushi]

...good and concise charting by Reggie Middleton, on why Greece is guaranteed to "redefault" on their newly-issued bonds even faster than they did on the previous ones - probably, well before 2016:

http://boombustblog.com/blog/item/6...lators-as-icarus-comes-crashing-down-to-earth

...this guy is someone to listen to, I am not his paid subscriber, but everything he says makes perfect sense, also he was spot on many times before (and I like his reasoning, pure math most of the time - so, not to many assumptions, mostly the certainties )


regards,