10/12/2008
Financial crisis raises questions on credit derivatives: India (Business Standard India)
India today raised questions about various aspects of structured products and derivatives in the credit market, whose limitations have been brought to the fore by the ongoing global financial crisis.
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10/11/2008
Embraer to Take $77 Million Charge From Currency Derivatives (Bloomberg)
Oct. 11 (Bloomberg) -- Empresa Brasileira de Aeronautica SA , the third largest aircraft maker in the Americas, said it will take a third-quarter charge of 178 million reais ($77 million) from derivatives after the Brazilian currency tumbled.
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10/10/2008
For Derivatives Investors, a Day of Reckoning (New York Times)
Wall Street and its regulators are gnawing their fingernails. Financial firms are about to learn how much they stand to gain — or lose — on derivatives linked to Lehman Brothers ’ credit.
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10/10/2008
Lehman derivatives auction described as 'smooth' and 'efficient' (Market Watch)
An auction to work out the value of Lehman Brothers bonds for derivatives traders values the debt of the bankrupt brokerage firm at 8.625 cents on the dollar, according to the administrators of the auction.
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10/11/2008
Mature property derivatives market needed (Times of Malta)
European real estate investors have never needed a mature property derivatives market more than they do now. But they have also never been more wary of how synthetic trades can push them into the eye of the financial market storm.
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10/11/2008
Credit derivatives provide more gloom (Financial Times)
Credit derivatives markets were swamped with the same bleak sentiment as stock markets on Friday, although some of the losses from the morning’s major sell-off were made up again later in the day.
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10/12/2008
A £516 trillion derivatives 'time-bomb' (Independent)
The market is worth more than $516 trillion, (£303 trillion), roughly 10 times the value of the entire world's output: it's been called the "ticking time-bomb".
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10/12/2008
Greenspan's legacy questioned amid crisis (San Diego Union-Tribune)
George Soros, the prominent financier, avoids using the financial contracts known as derivatives “because we don't really understand how they work.” Felix Rohatyn, the investment banker who saved New York from financial catastrophe in the 1970s, described derivatives as potential “hydrogen bombs.”
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10/12/2008
AIG Former Auditor Warned About Derivative Valuation in 2007 (Bloomberg)
Oct. 11 (Bloomberg) -- A former American International Group Inc. auditor told the insurer in 2007 that methods used by its financial products division to value derivatives might be flawed, according to documents from a Congressional hearing.
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10/09/2008
Did Derivatives Cause the Crisis? (Portfolio.com via Yahoo! Finance)
While I'm reading the front page of the NYT, it's worth noting the latest installment in its crisis series: 3,000 words from Peter Goodman on how Alan Greenspan's lax oversight of the derivatives market got us all into this mess to begin with.
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