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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (424585)10/10/2008 4:36:09 PM
From: Road Walker  Read Replies (2) of 1576104
 
People who think this is a joke.....and we know who they are......are pretty stupid. The only problem I see with this scenario is that Paulson and Bernanke took too long to respond making things much worse than they had to be.

Hate to say it but they probably shouldn't have let Lehman fail <said the Monday morning quarterback>.

Listening to the radio on the way home they said the credit default swap liability is over $60Trillion, somewhere way north of the entire value of the US stock markets. The crap is all over the place "insuring" all sorts of risky investments. Most firms bought and sold CDSs; AIG just wrote them like insurance, and they were toast.

Go Tampa Bay Rays... going to the ALCS tonight!
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