News from around the web: 2009-12-01

Distraction of the Day: Tiger Woods and the inexplicable late night accident

(video embedded above)

  1. aitrader says

    Swedbank won’t crash and burn in November so my prediction was a bit off. But here is some inside news for folks in the know. Swedbank just took out a rather large insurance policy on the real estate and other holdings in Latvia that are about to fall into their hands. The gent that brokered the deal is hoping and sweating he can pocket the commission within 30 days. That is the date when the Latvian holdings fall onto Swedbank’s balance sheet.They’ll be booking a massive loss. But I’ll wager it’ll be a fraction of the final number.My bet is they are hedging a pre-negotiated devaluation of the Lat currency. The whisper numbers are 15%. My best guess is the Latvian politicos will do an even 20%.And 20% is optimistic. Once they fall, the rest of Eastern Europe are so many dominoes…(Edward – your links don’t allow one to login. You may want to fix ’em).

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