Obbligazioni in default Lehman Brothers - sviluppi Chapter 11

[mauro1969]

non ho visto nuove objection verso i claim inviati dal Banco Napoli, forse aspettano veramente l'esito della discussione del 1-12

 

[lorixnt2]

Il fallimento odierno di ABK offre uno spunto per ritornare indietro nel tempo:

Well it finally happened, Ambac (ABK) has filed for chapter 11. My January 2008 article titled “It’s all over for Ambac” turned out to be a tad premature. Remember the two largest rating agencies, S&P and Moody’s kept its AAA rating on Ambac until June of 2008 (Fitch downgraded in Jan 08). Remember Warren Buffett’s famous quote at the time?

When a company issues a 14% bond when US Treasuries are below 4% and is rated AAA, you’ve now seen the cow jump over the moon.
​

There was an enormous amount of stupidity going around in the financial industry in the last decade but it was hard to top the idiocy at the monoline insurers. Remember they were called monolines because they basically did one thing, they wrote insurance on muni-bonds, that is bonds issued by states, cities and local municipalities. Insurance from the monolines gave the municipalities the AAA rating they desired, the AAA rating lowered the municipalities borrowing costs sufficiently to more than offset the fees paid to the monolines for this service. With typically very low default rates on muni-bonds this was a sweet business.
However it seems a near monopoly business with a licence to print money is not enough, at least not in the heady days of the mid oughts. So management brought in the financial whiz kids who advised them to start issuing insurance on credit default swaps, after all the premiums were so much bigger. We all know how that turned out and almost 3 years later the chickens have finally come home to roost.


Ambac Finally Files for Chapter 11 -- Seeking Alpha

In uno dei commenti leggo

31 Billion in insured Mortgage & Home Equity

Si sa a quanto ammontino le cifre complessive del default in questo caso?

 

[mauro1969]

Il fallimento odierno di ABK offre uno spunto per ritornare indietro nel tempo:

Well it finally happened, Ambac (ABK) has filed for chapter 11. My January 2008 article titled “It’s all over for Ambac” turned out to be a tad premature. Remember the two largest rating agencies, S&P and Moody’s kept its AAA rating on Ambac until June of 2008 (Fitch downgraded in Jan 08). Remember Warren Buffett’s famous quote at the time?

When a company issues a 14% bond when US Treasuries are below 4% and is rated AAA, you’ve now seen the cow jump over the moon.
​

There was an enormous amount of stupidity going around in the financial industry in the last decade but it was hard to top the idiocy at the monoline insurers. Remember they were called monolines because they basically did one thing, they wrote insurance on muni-bonds, that is bonds issued by states, cities and local municipalities. Insurance from the monolines gave the municipalities the AAA rating they desired, the AAA rating lowered the municipalities borrowing costs sufficiently to more than offset the fees paid to the monolines for this service. With typically very low default rates on muni-bonds this was a sweet business.
However it seems a near monopoly business with a licence to print money is not enough, at least not in the heady days of the mid oughts. So management brought in the financial whiz kids who advised them to start issuing insurance on credit default swaps, after all the premiums were so much bigger. We all know how that turned out and almost 3 years later the chickens have finally come home to roost.


Ambac Finally Files for Chapter 11 -- Seeking Alpha

e via un'altra.

Il meccanismo mi ricorda l'unico Bond Argentina con rating A perché aveva la garanzia delle Banca Mondiale.

 

[lorixnt2]

e via un'altra.

Il meccanismo mi ricorda l'unico Bond Argentina con rating A perché aveva la garanzia delle Banca Mondiale.

Probabilmente importano mucche dall'Australia

 

[acro26]

Domanda aperta a chi lo sà
Volendo chiudere un deposito titoli nel quale ho la lehman , secondo voi il traferimento è possibile oppure devo stare lì fino alla notte dei tempi ??
vi dò anche l'Isin in caso vi fossero differenze
XS0268648952


PS. grazie Paolo per i continui aggiornamenti !

 

[mauro1969]

curioso...BIIS (gruppo Intesa) ha una mission ben chiara
http://www.biis.it/scriptOpiv0/biis/it/chisiamo/it_biis_profilo.jsp

Guardandomi gli ultimi docket (da 12721 a 12724) si sono comprati claim per complessivi oltre 160 mln $, non comprendo che c'entrino con la mission. Mi sembra mossa da chi ha altri ambiti di operatività.

 

[lorixnt2]

curioso...BIIS (gruppo Intesa) ha una mission ben chiara
http://www.biis.it/scriptOpiv0/biis/it/chisiamo/it_biis_profilo.jsp

Guardandomi gli ultimi docket (da 12721 a 12724) si sono comprati claim per complessivi oltre 160 mln $, non comprendo che c'entrino con la mission. Mi sembra mossa da chi ha altri ambiti di operatività.

Per quanto è di pubblico dominio Mauro?

 

[lorixnt2]

A bankruptcy judge ruled Tuesday that Bank of America NA has to give back more than $500 million that Lehman Brothers Holdings Inc. deposited just weeks before seeking Chapter 11 protection, and called the bank's seizure of the funds an impermissible setoff that violated the automatic stay in Lehman's bankruptcy case.

Ecco Paolo, quest'uso dell'indeterminativo... ma quanti sono, se è dato saperlo, questi bankruptcy judges?

 

[Rastafari]

Un conoscente che lavora in Svizzera, mi ha accennato di una offerta di JP Morgan su obbligazioni Lehman con rimborso a 25 del nominale.
Ho cercato di avere qualche notizia in più ma non ho trovato nulla.... altre notizie?

 

[mauro1969]

settimo report dall'Olanda, poco interessante mi pare