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deftodet

Published Letters: 19
Editor's Choice: 7

Tuesday, February 19, 2008 05:45 PM
Original article: Don't be happy. Worry

So Good to have you Back Andrew....

You long delayed absence has been noted here among the followers of financial matters ...and it wasn't until scanning TWTWW columns for your writing that I realized how much your presence is needed as the ongoing financial crisis juggernaut lurches to the final resting place after a Nascar-like careening end-over-end crash in sub-prime-and-more credit markets that is currently occurring as this slow motion wreck.

Having you present at the upcoming autopsy to carefully delineate and explain the original sites of contagion and how it spread as an infectious pathogen like a financial retrovirus infecting the credit bearing lymph nodes of bond insurance, credit default swaps, Special investment vehicles, and now auction rate bonds is critical and your special role for the next few months.

But we need your attention on continued 'Way the world works' explanations of this ongoing meltdown (if Roubini continues to be right...) of the markets and your role is that of having an astrophysicist on hand as we watch the Type IA financial supernova of a white dwarf to explain to us Salonistas how the deflagrating carbon-carbon thermonuclear fuel credit cycle trips off a gravitationally confined detonation wave of defaulted bonds and empty credit auctions that sweeps over the progenitor financial market that grew dangerously fuel rich over these past few years...and the resulting thermonuclear shock wave of unknown loss writeoff in banks and hedge funds...washes over our remaining assets and wipes out our home equity, resets our ARMS and credit card rates to unheard-of high points, damages the stock and bond markets, and leaves a scorched-space expanding volume of blown defaulted credit bubbling out into the void of space at relativistic speeds where rich credit cloudes once gave birth to financial bubbles every ten years....leave a wake of defaulted commercial paper, sub Bbb grade bonds, foreclosed mortgage portfolios, record hedge fund losses and a government bailout to make the S&L Loan disaster look like a Katrina style FEMA response.

Show us, oh Carl Sagan of the dismal science, how it will all begin-to-end and why and how it came to be; that is all we ask

(oh yes...and what regulations would have helped stop the 'free-market' from exploding so spectacularly)

-Deftodet

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