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	<title>Comments on: ACA&#8217;s downgrade: billions heading to banks&#8217; balance sheets</title>
	<link>http://ftalphaville.ft.com/blog/2007/12/20/9786/acas-downgrade-billions-heading-to-banks-balance-sheets/</link>
	<description>FT Alphaville from FT.com</description>
	<copyright>Copyright The Financial Times Ltd 2006. "Alphaville", "FT" and "Financial Times" are trademarks of the Financial Times.</copyright>
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	<pubDate>Mon, 08 Sep 2008 09:28:34 +0000</pubDate>
	<lastBuildDate>Mon, 08 Sep 2008 09:28:34 +0000</lastBuildDate>
	<ttl>5</ttl>
	<language>en</language>

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		<title>by: Monoline update, via FT &#171; a neoconservative, mugged by Hobbes</title>
		<link>http://ftalphaville.ft.com/blog/2007/12/20/9786/acas-downgrade-billions-heading-to-banks-balance-sheets/#comment-9756</link>
		<pubDate>Thu, 20 Dec 2007 18:15:06 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2007/12/20/9786/acas-downgrade-billions-heading-to-banks-balance-sheets/#comment-9756</guid>
					<description><![CDATA[[...] ACA’s downgrade: billions heading to banks’ balance sheets [...]]]></description>
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		<title>by: Amir Shaikh</title>
		<link>http://ftalphaville.ft.com/blog/2007/12/20/9786/acas-downgrade-billions-heading-to-banks-balance-sheets/#comment-9755</link>
		<pubDate>Thu, 20 Dec 2007 17:47:17 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2007/12/20/9786/acas-downgrade-billions-heading-to-banks-balance-sheets/#comment-9755</guid>
					<description><![CDATA[NY Times also covered this story.   This story will keep moving closer to the front page as the credit agencies start weighing in.  We did a little write up on the story as well over here: http://overhedged.blogspot.com/]]></description>
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		<title>by: Carlomagno</title>
		<link>http://ftalphaville.ft.com/blog/2007/12/20/9786/acas-downgrade-billions-heading-to-banks-balance-sheets/#comment-9754</link>
		<pubDate>Thu, 20 Dec 2007 17:28:57 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2007/12/20/9786/acas-downgrade-billions-heading-to-banks-balance-sheets/#comment-9754</guid>
					<description><![CDATA[Friday often brings downgrades from the rating agencies... tomorrow should be interesting.

Mike Shedlock and Nouriel Roubini both have a good go at the rating agencies over their positions concerning the bond insurers:

http://tinyurl.com/2nff4z
http://www.rgemonitor.com/blog/roubini/]]></description>
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		<title>by: Anonymous</title>
		<link>http://ftalphaville.ft.com/blog/2007/12/20/9786/acas-downgrade-billions-heading-to-banks-balance-sheets/#comment-9752</link>
		<pubDate>Thu, 20 Dec 2007 16:59:38 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2007/12/20/9786/acas-downgrade-billions-heading-to-banks-balance-sheets/#comment-9752</guid>
					<description><![CDATA[Funny how the ratings agencies were the bad boys when they over-rated the original products (they were), but if they are allowed to do what they always should have done - downgrade - then the whole mess starts to implode.]]></description>
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		<title>by: Garenne</title>
		<link>http://ftalphaville.ft.com/blog/2007/12/20/9786/acas-downgrade-billions-heading-to-banks-balance-sheets/#comment-9749</link>
		<pubDate>Thu, 20 Dec 2007 15:33:06 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2007/12/20/9786/acas-downgrade-billions-heading-to-banks-balance-sheets/#comment-9749</guid>
					<description><![CDATA[Is this the beginning of the melt-down? Check "Financial Day of Reckoning Approaches" by Mike Mish Shedlock in yesterday afternoon''s Minyanville (NY time) on potential spin-offs! then go take a v. stiff double scotch or maybe two! It looks like the liquidity problem is just for starters and who knows where the insolvencies will end. I hope King and Trichet have a plan, other than emigrating to Saudi Arabia or China!]]></description>
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		<title>by: PC</title>
		<link>http://ftalphaville.ft.com/blog/2007/12/20/9786/acas-downgrade-billions-heading-to-banks-balance-sheets/#comment-9747</link>
		<pubDate>Thu, 20 Dec 2007 14:33:20 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2007/12/20/9786/acas-downgrade-billions-heading-to-banks-balance-sheets/#comment-9747</guid>
					<description><![CDATA[Sounds like the sort of scenario all the banks are currently hoarding liquidity for.]]></description>
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		<title>by: BlackRain</title>
		<link>http://ftalphaville.ft.com/blog/2007/12/20/9786/acas-downgrade-billions-heading-to-banks-balance-sheets/#comment-9745</link>
		<pubDate>Thu, 20 Dec 2007 14:27:19 +0000</pubDate>
		<guid>http://ftalphaville.ft.com/blog/2007/12/20/9786/acas-downgrade-billions-heading-to-banks-balance-sheets/#comment-9745</guid>
					<description><![CDATA[WSJ (Wall Street Journal) already flagged this problem. I commented on the bringing back of SIVs etc on this site. Now its getting interesting. Its not going to be a liquidity problem but a Solvency crisis.]]></description>
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