The Super Siv is not working out. According to Robin Sidel's article in today’s Wall Street Journal, expected investors are balking. “The nation’s three biggest banks have started to formally ask other financial institutions to join the fund, but some firms that were expected to sign up are now not as interested,” Sidel reports. “As a result, the fund’s ability to provide a solution for the credit crunch is more uncertain than ever, according to people involved in the situation.”
Just the other day, CNBC’s Charlie Gasparino reported that the Super Siv may be whittled down to just a third of its expected size. Can a 30 billion dollar fund really do the job the Super Siv was meant to do? How long until we get to stick a fork in this thing?
Enthusiasm Wanes for Fund to Bail Out SIVs [Wall Street Journal]
Posted by Anon , Dec 13, 2007 2:24PM
wow -- two posts on the front page with the same third-grade punctuation error. let's review:
it's = it is
its = its (possessive)
Posted by Knowledgeable person , Dec 13, 2007 2:29PM
total bullshit, there has been so much disinformation about this in the press...when it succeeds, they will look like idiots, just like after the Iraq War when no WMD were found...
Posted by , Dec 13, 2007 2:38PM
Carney & Bess - People like Anon @ 2:24PM will never go away.
But neither will we and our insistence to tell those douchebags to shut the fuck up.
Posted by slimjim , Dec 13, 2007 2:51PM
@ 2:38. Thanks so much. Your are such a hero. Go back to your glory hole bitch.
Posted by JMAN , Dec 13, 2007 3:08PM
I had two bowls of Credit Crunch for breakfast this morning. The prize in the box was a pink slip
Posted by JD , Dec 13, 2007 3:17PM
I did some credit crunches at the gym this morning, boy did they HURT!!
Posted by anon , Dec 13, 2007 3:26PM
"wow -- two posts on the front page with the same third-grade punctuation error. let's review:"
There is no capitalization, poor use of punctuation and you used fragmented sentences.
Posted by E. Cartman , Dec 13, 2007 4:28PM
The SuperSiv has been replaced by the auction discount facility. There's no need for the SuperSiv anymore, even from the idiotic, price-fixing perspective of Treasury and the Mishkin Fed.