Middleboro Review and so on

 SUBSCRIBE TO THIS NEWSLETTER Here’s the Chart of the Global Bank Causing Panic in Markets This Morning By  Pam Martens and Russ Martens : October 3, 2022 ~ The Swiss global bank, Credit Suisse, which is a derivatives counterparty to major Wall Street banks and U.S. insurers, raised alarm bells in markets on Friday and is raising more anxiety this morning. Its 5-year credit default swap (CDS), a measurement of its risk of defaulting on its debt, jumped to 250 basis points on Friday and traded as high as 350 basis points in early morning trade today. The big move in the CDS on Credit Suisse is further impacting the price of its common stock. The shares closed on Friday in New York at $3.92, just pennies away from its all-time low, then dropped another 11 percent in early morning trading in Europe today. When a major derivatives counterparty begins to see a blowout in its credit default swaps, that impacts the stock prices of all major Wall Street banks with significant exposure...

 SUBSCRIBE TO THIS NEWSLETTER Credit Suisse and the Fed’s Plunge Protection Team By  Pam Martens and Russ Martens : October 4, 2022 ~ At 6:53 a.m. this morning (ET), Dow futures were up 454 points. That followed the Dow Jones Industrial Average gaining 765 points yesterday. No one who has been a trader on Wall Street or a stock broker for multiple decades believes this rally is real. Wall Street veterans are thinking that either  the Fed’s plunge protection team  or the  Treasury’s plunge protection team  is behind the rally. Equally unbelievable, as the chart above indicates, is the fact that the major mega banks on Wall Street closed in the green yesterday. Many of these are counterparties to Credit Suisse derivatives and thus subject to the potential for contagion. Until everyone who works on Wall Street is 25 years old and too young to remember  what happened in 2008 after Citigroup began to quake , Wall Street traders are not going to believe that...

  SUBSCRIBE TO THIS NEWSLETTER AIG Was Brought Down by Derivatives in 2008. It Just Spun Off a Company Whose Prospectus Mentions Derivatives 371 Times By  Pam Martens and Russ Martens : September 16, 2022 ~ Yesterday, mainstream media was touting that the largest Initial Public Offering (IPO) of the year, Corebridge Financial, had just finished its first day of trading. The IPO was priced at $21 and closed at $20.73 (ticker: CRBG), not an illustrious start. Corebridge Financial is the life insurance and annuity business of the giant insurer, AIG. In 2008, AIG required a $180  billion  bailout from the U.S. government because of its derivatives and stock loan deals with the big trading houses on Wall Street – many of the same ones that are now underwriting this IPO. If that’s not enough to make you suspicious, consider the fact that the word “derivatives” is mentioned 371 times in the prospectus for Corebridge Financial. (More on that in a moment, but first some backg...