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Politics : Welcome to Slider's Dugout
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To: Nihontochicken who wrote (9385)4/27/2008 6:37:34 PM
From: Nihontochicken  Read Replies (2) of 50700
 
Here is a great article explaining why the banks got in so deep with CDS (Credit Default Swaps) on their CDOs (Collateralized Debt Obligations), namely to avoid mark-to-market reality and to immediately book forward profits. Also explains the involvement of the hedge funds, and why Bear Stearns had to be bailed out by J. P. Morgan (which company owns one-third of the $45 Trillion CDS market).

tinyurl.com

Apparently the whole CDO/CDS Ponzi scheme is still threatening to unravel.

NC
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