another subprime victim, page-31

V,

For another slant on the panic/desperation/euphoria in the stockmarket and financial /business world compare the current situation with the Dance of the Seven Veils .

By my reckoning we are at veil 5 yet to be removed /yanked away/ripped .How so?.

V7 US Subprime and collapse/resteucturing of mortgage companies .

V6 US Banks writing off,worst performance for decades/half centuries in 4th calendar quarter of 2007.

V5 CDO/SIV ,another area of sophisticated (!!!) derivates
brought to you courtesy of the masters/spinmeisters of the financial universe.

V4 Monoline bond insurance .Hands up all those readers of hc who heard of that before !!.To affect infra structure .

What's left?.Try c/card write offs,lbo debt write offs ,commercial r/e adjustments .

So will we finally see that precious ,unadulterated v irgin in all her glory ???.

Time will tell.

Safe trading