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Buddy, Could You Spare Us $15 billion?

Hence, after its move against Ambac, Fitch went on to cut no fewer than 137,500 bonds (including one issued by Arsenal football club).

This is more than academic: holders of downgraded bonds have to mark them down under "fair value" accounting rules. Some, such as pension funds, may hold only the highest-grade securities, raising the prospect of forced sales. And, with fewer top-notch insurers to turn to, bond issuers' costs would rise. The loss of the AAA badge would cost investors and borrowers up to $200 billion, reckons Bloomberg, a financial-information firm.

Banks that were active in asset-backed markets have multiple reasons to worry. Many not only used monolines to wrap their products but also bought protection from them through credit-default swaps (CDS).


July 2006

Going for a full month, we did not have tons of money, so Mom for pack the basics of kitchen goods, her spices, dry and canned goods, and few extra things that she knew the cottage did not have. Dad did not sleep well the night before so most the time he would pack the car the evening before. Mom would try to let Dad get a couple of hours of sleep before the long drive from Ohio to the Cape.

We would normally leave late and drive through the night and get to the Cape around noonish. We tried to stop once and that was a disaster as no one sleep and it was a waste of money. Even into my years of driving, we have done the same. Only now that it is just my wife and I we do try to find a place to stop over night to and from.

Personally I would rather get there and have more time for the Cape.


Moran, other 'Happy Days' stars to reunite at car show

Howard went on to huge success as an Academy Award-winning film director.Winkler has produced and directed shows and movies and acted in "Scream" and "Holes." Anson Williams (Warren "Potsie" Weber) has directed TV episodes, including some for "Star Trek Voyager" and "Beverly Hills 90210." After starring in the short-lived "Joanie Loves Chachi," Moran worked in independent films.Moran, 47, said she cannot wait to reminisce on her glory days as Joanie with co-stars Williams and Winkler. During a "Happy Days" reunion this weekend, the three actors will sign autographs and chat with fans at Carquest World of Wheels at Chicago’s McCormick Place East.During the three-day show, 100,000 fans are expected to visit the "Happy Days" gang, meet Jason Earles (Jackson) from "Hannah Montana" and enjoy hundreds of gleaming, hand-built, custom cars.The "Happy Days" gang will feel right at home around car fanatics.



 

 

 

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