READ AND THINK!!!!!
Fears of Lehman's CDS derivatives haunt markets
It is a full week after bankers gathered in New York to start sorting out the derivatives mess left by the bankruptcy of Lehman Brothers. We still do not know who is on the hook for some $360bn of default insurance, or how much they will have to pay.
Those on the wrong side of these Lehman debt contracts - known as credit default swaps (CDS) - must come up with the money by Tuesday, the next D-Day in the ever-fraught calendar of the credit markets. There has been a deafening silence so far.
http://jsmineset.com/
http://www.marketwatch.com/news/story/gold-falls-4-one-month-low/story.aspx?guid={E0D556D0-8E0F-4F20-B571-725EA55BCB85}&dist=msr_1
no doubt some of that will be used to pay off Lehman-related instruments which come due on it's either the 21st or 24th....24th I think it is.
DO YOU SEE WHY DE 24.......