Active interest this morning in Credit Default Swaps on New York Munis. Not surprising given that New York is going to take it on the chin if the recent slew of bonus-bans takes hold. To the extent taxes are a municipality's lifeblood, New York is about to get exsanguinated.
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Posted by guest , Mar 20, 2009 10:01AM
Me trying to get a coffee in Manhattan in six months....
http://www.youtube.com/watch?v=zuRde4VxH4I
Posted by guest , Mar 20, 2009 10:03AM
Getting "exsanguinated" is the new killing it!
Posted by guest , Mar 20, 2009 10:13AM
Hey, what happened to my TRADER magazine? I love reading about the swashbuckling hedge fund manager bsd's and I especially like those ads for Bentley, Breguet and AP.
Posted by guest , Mar 20, 2009 10:15AM
Ko reservation was surprisingly easy to get this morning
Posted by guest , Mar 20, 2009 10:15AM
Breaking News: On heels of successful appereance on Leno, Obama to appear on Judge Judy (vs. AIG).
Posted by guest , Mar 20, 2009 10:21AM
Spreads widening because of bonus cuts? Way to establish cause and effect EP!
Or was this post meant to be sarcastic?
Posted by american bandersnatch , Mar 20, 2009 10:28AM
Unless there's a workaround on comp, Short Hills, Summit, Chatham, Madison, etc. will take it on the chin. A remarkable correlation between house prices and bonuses.
Posted by guest , Mar 20, 2009 10:28AM
NYC is toast. The city's infrastructure will go to hell as they'll have no more tax money from the carcasses of finance....
Thank god I'm in Boston...
Posted by guest , Mar 20, 2009 10:33AM
exsanguinated.... I love you EP.
Posted by guest , Mar 20, 2009 10:40AM
lotta people gonna take it on the chin...that's what she said.
Posted by guest , Mar 20, 2009 10:55AM
WTF
Posted by guest , Mar 20, 2009 11:32AM
What seven said, and may as well add in monmouth county and most of essex, hunterdon and passaic counties. lets also throw in corzines genuis plan of eliminating the property tax deduction- upside- should be cheaper houses in ct. now...
Posted by Debter , Mar 20, 2009 12:02PM
There is active interest every day on NY CDS as you have more than one player making markets in that and many other names (Cal GO's, NYC's, etc..).
Blah
Posted by PatrickBateman , Mar 20, 2009 12:09PM
I love this. Average Joe clamors about Wall St bonuses and then cries about New York's budget deficit. I LOVE it. You can't write this stuff.