The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: patron_anejo_por_favor who wrote (101535)	2/21/2009 7:09:56 PM
From: Skeeter Bug	Read Replies (1) of 110194

patron, the vast majority of CDSes were naked, according to my sources. maybe more than 80%. why would the banks sell that kind of risky stuff? so the swindler employees could monetize shareholder leveraged risk - they got commissions from selling the toxic CDOs and more commissions from selling the toxic CDSes - and the shareholders took all the risk as they extracted massive profits from the system. taken from an internal Wall Street email in December 2006... "Let's hope we are all wealthy and retired by the time this house of cards falters."

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