Inovação

Esta é para o CN e para o Anti-comuna, a propósito de uma disputa que recentemente tive com ambos n'O Insurgente acerca da inovação e dos riscos associados ao mercado não cotado (o "Over the Counter")...

"Banks may accelerate efforts to move trading in the $62 trillion credit default swaps market through a central clearinghouse or to an exchange after the bankrupcy of Lehman (...) the first major market maker to go bankrupt in the decade long history of the privately negotiated, unregulated business, may leave behind billions of dollars in potential losses for trading partners (...) No one knows exactly how much because there's no central exchange or system for recording trades (...) A clearinghouse capitalized by owners could have reduced the risks because it becomes the so-called counterparty, for a fee, to each side of the trade. Now, banks are sifting through trading positions to net trades that offset each other and reduce potential losses. Untangling the web may last into 2009.", Bloomberg News.

"The fact that I can't tell you the notional value of derivatives contracts Lehman has written the day after a bankrupcy is a scary thing", Brian Yelvington, CreditSights Inc.

"Just figuring out what they have could take a week, but the thornier issue is to figure out valuations", John Jay, Aite Group.