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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (424637)10/10/2008 8:57:48 PM
From: bentway  Read Replies (1) of 1575981
 
I think the subprime mortgage backed securities revealed the existence of the credit default swap paper when MBS's defaulted and the CDS's didn't make their owners whole. That made ALL financial instruments secured with credit default swaps suddenly much more risky. And here we are, in panic town. So, we're WAY past mortgages.

I suspect there are more shoes to drop, as the current market carnage reveals even more players swimming without suits, and more scams.
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