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Author Primus
rffrydr
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Joined: 30 Oct 2005
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Location: Sunny California
PostPosted: Fri Apr 24, 2009 4:37 pm    Post subject: Primus Reply with quote
Quote:
“To wider spreads,” Jasper, Primus’s chief executive officer, said as he hoisted his glass to the crowd in the bar, predicting his firm could increase prices for the credit-default swaps it sold to banks protecting corporate debt as investors became nervous over growing losses on subprime mortgages.

Primus shares have fallen 82 percent since that evening.



http://bloomberg.com/apps/news?pid=20601109&sid=aAqPKpl2zjkg&refer=home

Quote:
“Tom was the Henry Ford of derivatives,”

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