Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Maurice Winn who wrote (70583)	10/12/2008 1:01:27 PM
From: carranza2	5 Recommendations Read Replies (3) of 74559

but a credit default swap is not an atomic bomb, it's just a contract. The parties can examine the financial viability of each other to see if it's worth agreeing. I know you know better [just as you know Greensputin should be taken out, blindfolded, given a last cigarette, and shot by a firing squad] so I won't respond extensively except to note that derivatives, like atomic weapons, rain toxic fallout when they blow up. Can you acknowledge that banks are not lending either to customers or to each other because of their paranoia concerning the potential debtor's exposure to counterparty risk? It is a fact, Mq, and it is a fact which has vaprorized via financial gamma rays about $2 trillion worth of capital so far, including some of your assets. You can always change your mind, Mq. John Maaynard Keynes is famous for saying something along the lines of "when the facts change, I change my mind."

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