President Barack Obama Message Board

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Politics : President Barack Obama

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To: Lizzie Tudor who wrote (40878)	10/28/2008 4:49:26 PM
From: LLCF	Read Replies (1) of 149317

<mark to market along with swaps were the real culprits here.> Remember all securites used to be "marked to market" when they traded on exchanges. This business of marking to market ONLY CAME UP with the explosion of OTC securites that weren't exchange listed. If they had been "marked to market" all along then the risk parameters implied by the volitility inherent in the bids and offers for such securites 'should' have meant much less leverage employed in ownin them. Yea, "swaps", "swaptions", all forms of leveraged contracts that most had little understanding of should never have been owned by most those who owned them. No doubt banksters held tasty looking historical returns in front of their faces to entice all sorts of funds who had no business dealing in them. DAK

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