Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: Road Walker who wrote (423730)	10/8/2008 1:29:51 PM
From: Brumar89	Read Replies (1) of 1577096

And there'd be no demand for credit default insurance if the government hadn't created a big market for securitized subprime debt. Seems to be to me. But they were always careful to promote the CDSs without using the word insurance, which is regulated to the hilt. So they tip toed around the law, selling what was effectively unregulated insurance. That enabled them to sell the sub-prime bundled mortgages, which enabled the originators to write the sub-prime mortgages. Ain't the free market beautiful? Writing subprime mortgages was exactly what the government wanted. As for tip-toeing around the law, there wasn't a law so no need to tiptoe.

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