Tag:
Haircut
Latest Headlines
Latest Headlines
Jefferson County muni default could be largest in history
If bond holders and Jefferson County, Alabama officials cannot come to an agreement, the county will soon have the dubious distinction of being the largest muni default in the history of the United States.
That default would pale of course in the face of a default by the U.S. government, which
Nuances in the Goldman Sachs-AIG controversy
When it was revealed that Goldman Sachs was one of the big counterparties that AIG made whole recently, some wondered why AIG felt like it had to pay full value. The thinking was that they should have asked their counterparties in these extraordinary times to accept less than full value, to take a
A tough time to be a bank bondholder
There's a lot of uncertainty these days if you're a holder of big banks bonds. The nervousness is apparent from the soaring CDs spreads and tanking prices of subordinated debt. Breakingviews notes that most likely the worst-case scenarios will not come to pass. The government certainly seems b
Roubini vs. Gross: To nationalize or not?
The nationalization discussion is not going away. But then again, no one really though it would. A debate has broken out between super-bear Nouriel Roubini, who in many ways predicted the mess we're in, and PIMCO founder Bill Gross. Roubini states his case in the Washington Post: " The
Fancy footwork from more private equity funds
We noted recently that private equity firm Apollo has been among the most active beneficiaries of PIK toggle features in bond issues. Which basically allow portfolio companies to pay interest with more debt. The Financial Times reports that Apollo is also benefiting from so-called "accordi
