Open Thread
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Need a Hand?
Your Next Project Starts with Brownstoner
so how bout that American Idol?
What…those people at the state, local & municipal level, which has been a common occurrrance across the country, had no idea what they were doing. We don’t engage in trades here at the Mutant Hedge Fund when we don’t fully understand them and nor should anyone else.
Time for a lot of people to take the blame.
Benson, it’s too late!! We’ll try again tomorrow.
Maybe there won’t be mention of reality shows today….oh god, I hope so.
OK, here’s the challenge of the day: a full open thread, with no discussion of cats or poop!
You know something? It just keeps getting better..
Here is some insight on the “Masters of the Universe” tricks. Depression here we come!
Swaps Backfire on Hospitals Firing Workers to Pay Wall Street
http://www.bloomberg.com/apps/news?pid=20601109&sid=ab21IaySjXmY&refer=home
March 18 (Bloomberg) — South County Hospital Chief Financial Officer Thomas Breen thought he’d seen the worst of the credit market’s seizure when the interest rate on $52 million of its debt doubled to 12 percent a year ago.
That was just the start. The Wakefield, Rhode Island, hospital has also been forced to give Merrill Lynch & Co. $12.7 million of collateral for an interest-rate swap that backfired. South County could have used those funds to counter a drop in state aid for treating uninsured patients, compensate for declining admissions or buy four years’ of orthopedic supplies. Instead, the facility is firing workers and cutting pay.
But wait a minute! Interest rates are at a all time low! How could this happen?
The swaps are failing because borrowers didn’t anticipate that the value of the contracts, which often mature in 30 years, would tumble as central banks cut rates. The Federal Reserve reduced its target rate for overnight lending between banks to near zero percent in December, from 5.25 percent in 2007. Swaps are agreements to exchange interest payments, usually a fixed payment for one that varies based on an index.
Oh I see they guys thought they was “smart” but was being used as Assheads! Financial Alchemy! Shazam!!!!
“In a swap, parties agree to exchange interest payments, usually a fixed payment for one that varies based on an index. Borrowers may use the swaps to lower interest expenses or lock in rates for future bond sales. Swaps are private contracts, and the market for them isn’t regulated. In the municipal market, they are typically done in conjunction with negotiated bond offerings.”
Huh??? What??? Huh?? Get me a coffee please, I can’t cope this morning…
The What (Don’t worry have another skittle)
Someday this war is gonna end…
Potty and poo thread above^^^^^^^^^ Seems BH people are pretty anal.
“MENTION OF CATS!”
Now you gone and done it, you’re going to wake up up the neighbors!
Catfight!
(Oops, NO MENTION OF CATS!)
7th!