Data reported in the news media and other sources show that the prices, or spreads, on California CDS wrongly brand our bonds as a greater risk than those issued by such nations as Kazakhstan, Croatia, Bulgaria and Thailand.
HT: T-Dub.
3.30.2010
California Treasurer: Blame the shorts!
Taking a page from Lehman's Dick Fuld ("I will hurt the shorts, and that is my goal."), California Treasurer Bill Lockyer sent a letter (pdf) to Goldman Sachs insisting that California isn't as rotten as Lehman and all our problems are caused by those darned CDS buyers.
HT: T-Dub.
HT: T-Dub.
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UPDATE: Edited to remove the guy's name. I hope nobody harasses him or his employer. He was good-natured and his sign was innocuous a...
5 comments:
He should sue Jamie Dimon while he's at it then.
I'm still trying to find reasons that justify why your blog rates a 4 in Google since you put so little effort into it.
Mostly the quality of the comments, I think.
So if Lockyer is pulling a Dick Fuld by blaming "evil short sellers", does that mean he's about to pull a Repo 105 too?
For Lockyer's protestations that CA has never defaulted on its general obligation debt, I have a one word retort: YET.
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