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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (425212)10/12/2008 7:08:32 PM
From: tejek  Read Replies (1) of 1576081
 
I was talking to a friend in "the industry" today. She said they don't know what they are, or where they are. The CDS are totally a mystery. It's almost funny, a $62Trillion mystery, just like 7 years old.

I think that's because they were converted into bonds and in the process everything was mixed up.....the good and the bad together.....and making it very difficult to back out the good from the bad. To be honest, I don't understand how they converted them into bonds in the first place so I don't have a clue if there is a way to legitimately value them. Its likely they will have to come up with an arbitrary way to place value.

The total default mortgages are a "pimple on our ass", no way they could pull down the world economy. It's all about the derivatives.

That's right.......and the fact they were sold to so many banks beyond US borders.

What worries me.....do the leaders of the G 7 nations really understand the true nature of the problem? If they don't, we are truly screwed. One thing is clear......none of them seem to be 100% sure what the solution is.

One good thing.....the futures are up big for tomorrow......so maybe what the G 7 did this weekend is expected to work. We'll see what happens when the Nikkei opens.......in the next hour.
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