What To Do When Your Biggest Supplier Defaults Mid Season

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What To Do When Your Largest Supplier Defaults Mid Season

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    1. 27. Goldman Sachs was among AIG's biggest counterparties. Goldman Sachs Chief Financial Officer David Viniar has said that his firm's stringent collateral agreements would have helped protect the firm against a default by AIG. ... When trades are cleared, the requirements have "nothing to do with credit so much as the mark-to-market value of your current net position." "Once you're able to use a clearinghouse, presumably everyone's on a level playing field," he said. ...

    1. Getting banks to lend more won't be easy, given the rising tide of defaults on loans made to finance housing developments, office buildings, shopping malls and other commercial real estate. ... 15, the company's largest supplier of aluminum and fiberglass ladders suddenly refused to deliver ladders unless it was paid in advance. Within days, says Mr. Harrison, Michigan Ladder lost as much as $1 million of the supplier credit on which it relied to pay for raw materials and ...

    1. The 'big ones' are tied into everything and if fortune 500 companies feel the pinch they will lay off 50% of their work forces, followed by their suppliers, the property lease holders and the advertising companies ie the domino effect. .... This will be it. All we can do is continue to oppose this ludicrous socialist action. Commercial real estate teeters on the brink and that will cause another bank default scenario to assist in the destruction of the dollar. ...