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Posts Tagged ‘ISDA’

Wall St ‘Living Wills’ & ‘TBTF’?? Watch Your Wallets, Folks!!

Posted by Larry Doyle on August 7th, 2014 9:21 AM |

Little surprise this week that the Federal Reserve and FDIC have assigned failing grades to Wall Street’s ‘too big to fail’ banks assigned to writing ‘living wills.’

As a frame of reference, these ‘living wills’ are required by the Dodd-Frank legislation intended to reform Wall Street and prevent the need for another government bailout of our ‘too big to fail’ banks.

Really? Well, in theory anyways.

Why is it that our ‘too big to fail’ banks cannot write ‘living wills’? (more…)

More Price Fixing on Wall Street?

Posted by Larry Doyle on March 27th, 2013 6:17 AM |

Here we go again.

With the investigation of the greatest financial fraud ever perpetrated on Wall Street — that being the manipulation of Libor — still in the early stages, news emanating from Europe this morning redirects the shadow from that organized activity into the dark and dank world of credit derivatives, aka CDS.

Recall that cornerstone principles of an industry that operates as an oligopoly are:  (more…)

The ISDA Emperor Also Has No Clothes

Posted by Larry Doyle on March 2nd, 2012 7:42 AM |

Writing down sovereign debt by over 50% and subordinating one class of bondholders from another –those being the royalty ensconced within the European Central Bank — would not qualify as a “credit” event, now would it? No way! Of course not! Why would it?!

Not when those compelled to pay out on the supposed “insurance” within derivative contracts are the royalty within other large international banks, and they sit in the positions of judge, jury, and counterparty in the case.

Welcome to the world of international finance circa 2012.  (more…)






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