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 (425603)	10/13/2008 4:34:31 PM
From: bentway	Read Replies (1) of 1574674

I'm actually more concerned by what the CDS's secure, which is $500+ trillion of paper largely based on derivatives. Also a new invention by our clever banksters and their quants. These derivative products are sometimes leveraged as much as SIXTY TIMES against any underlying assets, "secured", of course, by these worthless CDS's. The reason none of us know about them are because we haven't been playing in that league. It's all happening in the private equity, totally unregulated "shadow market" where the giant hedge funds play. Where the top 1% who've been cashing in big under Bushenomics have been putting THEIR money. It's a kind of justice in a way, but the fallout may crush us common men. People should definitely go to jail for fraud here. Selling crap like these derivatives and then selling CDS's to secure them is fraud, and the fraud is being revealed with every shoe that drops. Mortgages just pulled back the curtain.

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