Serge Birbrair

Counterparty Risk Management: How Could So Many Be So Wrong for So Long?

The bankers have tremendous leverage with issuers.

Who the hell will underwrite the next muni-etfPreferred-Stud... issue if all major bankers say NO?

Those who need capital need bankers to raise this capital. I see them falling to bankers pressures next, as now it's not our but bankers money on the line.


Right now this is our money on the line, after UBS buys ARS they sold fraudulently to us from us, this will be their money and their pressure on the issuers. They'll do fine and make some in refinancing fees.