October 19, 2007 –
I’m intrigued by this planned ‘superfund’ that is meant to help inject liquidity into the credit markets and address the problem of the SIVs (structured investment vehicles). In truth, I haven’t read much about the structure, means or objective, but my initial reaction to the headlines is this: if superfund is backed by some of the largest US banks to purchase illiquid fixed-income instruments that have created a quagmire in normal financing by these same institutions, are we dealing with a closed system? Perhaps I’m mistaken and the superfund is meant to purchase the debt of other institutions exclusively. Still, the situation reminds me of a classic brainteaser, which I’m reprinting here, courtesy of numericana.com : [more]
October 03, 2007 –
First, I apologize for not posting over the past two days -- things have been a little hectic here. I will continue to aim for 100% assiduity. [more]