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Buiter is referring to the market value of the gov debt not the ratings. As I understand the ECB uses the market value of gov debt to provide funding(correct?), so the Greek borrowing power is collapsing by that day

I'm actually looking for solutions so my emails will never be read by anyone that I dont want to

You really believe the ECB will start to accept greek junk corporate paper/equities for funding or you believe they will decrease the haircuts

But where are those records, they seized GS email servers?

If Greece’s lenders run out of collateral and suffer an outflow of deposits, the ECB would have “to reduce the minimum quality threshold on securities acceptable as collateral, currently BBB- or the equivalent, or refuse to lend to the Greek banks,” Citigroup’s Buiter said. That would...

I have a question, how is that the government always have access to people's emails like this?

It seems to me that if the US government gets Buffett to post collateral that should spook the markets as every contract will not be set in stone and could be subject to change according to which way the political wind is blowing. The cost of financing should go up both for equity and the debt...

Looks like Buffett is being fat tailed here, might have to post collateral against his SP short puts 'WSJ:Senate Democrats agree to strip out derivatives provision pushed by Berkshire Hathaway'

nitro, The solution is not 'more regulation' but 'better regulation', actually how to get better regulation is real question. Is not as easy as some liberal economists and politicians make it look like. As far as the financial and economic field is concerned forecasting is pretty important...

When you say you are fading you meanyou believe its going to blow out?

Surprise surprise 'Greek Bonds Tumble on Concern Germany May Hold Back on Bailout ' http://www.bloomberg.com/apps/news?pid=20601087&sid=aO.GqSp77qZo&pos=1 “Germany is playing hardball and until we see the money on the table investors will demand a higher premium to hold the debt.” I...

I do not necessarily disagree. But it seems to me that if the 3 agencies were to junk that debt tomorrow, there would be a lot of selling

Stephen Colbert on Goldman "Why are government employees filing a civil suit against Goldman Sachs? That's just going to be embarrassing in a few years when they all go back to work at Goldman Sachs"

Lets say thats true, still, the market sold off hard yesterday after the downgrade. The market is paying attention to it

Heres what he said http://imarketnews.com/node/9766 Asked last January in the context of Greece's eroded credit rating whether the ECB still intended to revert to the old collateral rules at the end of this year, Trichet replied, "We will not change our collateral framework for the sake of any...

Dow Jones: German Minister: Will meet with Parliamentarians Monday There is the TARP moment

Watch GS puts today, more hedges will have to be made

I remember Trichet saying that they wouldn't change their rules in order to accomodate the PIGS, the ECB did continue their 'almost junk' policy of accepting almost junk gov bonds that was apparently set to expire to not sink Greece but he rationalized in the press conference 'we didnt change...

The thing is 5% loans from the EU wont help much with the interest rate costs in terms of the agencies but 2.5 might. You dont think if their debt becomes junk and they get shutdown of the ECB that will matter?It could lead to a run on greek banks

Hey Martin, How is the libor market today?the Jun GE is down 1.5bps but I'm not sure how much of that is the decline in ZQ