AbitibiBowater, Inc. (fka ABWTQ)

[KFC44]

ABWTQ --- Credit Default Swaps

Word is getting out about its Toxic ability

In connection with BP, most on Wall Street are now firmly betting against BP in one way or another. Some sources say that BP is trying to protect itself legally against one of the largest environmental settlements ever.

Whether they go BK is really anyone's guess -- but again why is everyone so concerned.

In one shot -- it's the CDS (insurance fraud Casino). The US Gov't and The American Oil Companies want their rightful assets (GOM drilling reserves) in their own hands. And screw the 40% of Americanpeople that have invested in BP for its dividend through their 401 K's.

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As an aside -- all this on a day when the experts now say that demand for crude and crude products has fallen by roughly 25% relative to 2007 levels (in the US). And "worldwide", that kind of demand will not sook up the excess supply.

So why are we at $70. Some say we should be below $30 per barrel. ($26.50 and $39.99).

So when will we see the hedge unwind with crude and lumber -- we know it exists.

I think very soon -- if the hedge funds want to take BP down within the year.