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Olduvai III: Catacylsm
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The Liquidity Endgame Begins: Whiting’s Revolver Cut By $1.2 Billion As Banks Start Slashing Credit Lines

The Liquidity Endgame Begins: Whiting’s Revolver Cut By $1.2 Billion As Banks Start Slashing Credit Lines Earlier today we reminded readers about the circular (and why note fraudulent conveyance) scheme hatched by JPMorgan to reduce its secured loan exposure to Weatherford, when just two weeks ago none other than JPM underwrote an WFT equity offering in which […]

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The Oil Short Squeeze Explained: Why Banks Are Aggressively Propping Up Energy Stocks

The Oil Short Squeeze Explained: Why Banks Are Aggressively Propping Up Energy Stocks Last week, during the peak of the commodity short squeeze, we pointed out how this default cycle is shaping up to be vastly different from previous one: recovery rates for both secured and unsecured debts are at record low levels. More importantly, we noted […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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