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Rhinebridge Commercial Paper SIV May Not Repay Debt (Update1)

By Neil Unmack

 

Oct. 18 (Bloomberg) -- Rhinebridge Plc, the IKB Deutsche Industriebank AG structured investment vehicle that has lost about half its value, is unlikely to repay all its debt.

 

Rhinebridge suffered a ``mandatory acceleration event'' after IKB's asset management arm determined the SIV may be unable to pay back debt coming due, the Dublin-based fund said in a Regulatory News Service release. Rhinebridge had $1.2 billion in commercial paper outstanding as of Oct. 5, according to Fitch Ratings...

 

http://www.bloomberg.com/apps/news?pid=206...kNfI&refer=home

- - - - - - -

Another stoolie may have already posted the article above.

 

If so, I apologize.

 

This is the second SIV (and larger at that) to blow-up in days...

 

When other institutional and wealthy investors read of these unlucky souls LOSING BIG MONEY in the above story, it must fill them with terror for the safety of their own invested funds.

 

Here is the catalyst which may shake the entirety of the capital markets, and set off another round of panic.

 

This may explain the flight of capital into Treasuries.

 

Heads up, for the sh*t may soon be about to hit the fan.

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anybody else notice lately the increase in the number of regular routine insider-colluded tests of "accidental" :lol: quote and trading system "computer glitch" <_< outages?

 

looks like they're getting ready for a crash triggered by a "surprise" :lol: news event "that nobody could have foreseen" <_<

 

public will be locked out for hours at a time

 

during which they'll work 'em into a panic frenzy, then they'll turn the machines back on and let 'em all try to sell into a vacuum at the same time

 

it'll be fun to watch

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ABCP DEFUNCT

 

The mortgage meltdown has a long way to go.

The credit contraction continues

 

PS ASX/200 has tripled over the last 5 years.

Beat the S&Ps lousy 75% rise anytime.

And remember that 75% is in pacific peso's.

In Australian dollar terms the US stock market has not gone up over the past 5 years!!!!!!!!!!!!!

In gold terms the market has fallen considerably.

 

We have a real bull market in OZ based on real fundamentals over here.

 

US is just a series of unproductive bubbles.

Just one big transfer of wealth - no real wealth is being created.

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