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 (425053)	10/12/2008 10:19:58 AM
From: combjelly	Read Replies (1) of 1578445

"Even now, I don't think the major part of the problem is the mortgages... it's more likely the estimated $62Trillion in CDSs." Pretty much. Oh, the current mortgage mess is worse than usual because of creative methods of financing (zero down, interest only, etc.) a lot more loans are underwater than is usually the case. So more people are inclined to just bail out than is usual. The real problem is that we have placed a pretty high value on something that doesn't really exist. And $62 trillion is a pretty large number. Sort of like the Dutch and the tulips...

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