BP Plc (BP)

[MinnieM]

I haven't read your link yet, but, have read others touching on the same subject. Depending on the amount of dollars BP has linked to them, CDS defaults could make this Enron times 10.

Does anyone have a link showing how deeply BP is into CDS's?

I'll go short or play puts on a down day here, but, I'll stay out and play something else on a long day. There are many more plays much safer than being caught in here long when/if the sh-- hits the fan. JMO




In Reply To 'Ecomike'

This is a must read for any one in the stock market, not just those playing BP:

http://www.marketoracle.co.uk/Article20778.html

I am hoping that the US and British pass some sort of joint superfund tax law to pay for cleanups like this one, that also caps damage claims, other wise we may be looking at BP bankruptcy, CDS defaults and the failure of the entire world banking system and insurance system, world wide credit freeze II, and Great Depression II.

I am super bull, and 99% long right now, but reading that article scares the shit out me. Sovereigns can print money, BP can not!