Bill’s Commentary:
“True story W!”
Bill,
Caught this comment on a social media site. Says it all!
“Owning paper gold is like owning pictures of guns and thinking you are well armed.”
Touche’
Wolfgang
Bill’s Commentary:
“Excuse the language but here they go again!”
Oh My Fucking God, They’re Doing It Again
Assholes who wear Vineyard Vines all summer on Wall Street have once again put those Wharton PhD’s to good use by again “discovering” that assets so toxic and illiquid they make drinking cement taste like Fiji water apparently become safe when you rearrange them, rename them, and place an insurance company between the losses and the people buying them. Sound familiar?
According to Bloomberg, UBS and other firms have been exploring structures that package stakes in private-credit funds into bonds. Because perpetual private-credit vehicles do not fit neatly into conventional ratings models, bankers are looking to add insurance “wrappers” that allow portions of the deals to inherit the insurer’s stronger credit profile. The resulting paper can then be marketed as investment grade, even though the assets underneath remain opaque, illiquid private-market investments.
Bill’s Commentary:
“I do not believe July 24 will be “the” day, I do believe it’s part of the process that leads up to THE day…”
BillHolter.com 
Thank you pamelamoves@gmail.com
LikeLike