Port Authority pays 20%

Discussion in 'Wall St. News' started by dozu888, Feb 13, 2008.

  1. dozu888


  2. That's what I wanna know. 20 percent? cmon, where CAN i sign up? If they fail to pay up i'll just take the horns off their trains and sell them on eBay to get my money back.
  3. Daal


    You have to have a relationship with the broker who acts as remarketing agent and call that broker.
  4. Mvic


  5. moo


    What the hell is going on??? Isn't this stuff supposed to be super-safe?
  6. risk/reward in the market has been out of whack for a very long time now. Credit ratings have finally being exposed for the shame that they are. Investors now have to do their own independent reasearch.

    mBIA is the biggest joke of them all. Any company which losses money should not be rated above BB. In MBI's case, it shoud be rated C.
  7. I'm so glad, NY-NJ is a fucking joke and I hope goes bankrupt.

    Taxes are too high!
  8. Remember, these are very short-term financings.

    It is an "auction" market like the way the U.S. Treasury finances the government using T-bills every week. The reason why rates were 20% was because that was in the "contract" if you are trying to "roll" IF the banks ( like Goldman and Citi ) backed off, which they did.

    In order to get around the risk of such a "failed" auction, these municipalities will most likely have to go into the long-term debt market.
  9. how would a small guy go about buying $50,000 worth? i would not think he could but i am curious.
  10. Dude.. you think taxes are going to go any lower in a tri-state BK situation?
    #10     Feb 14, 2008