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Politics : Formerly About Advanced Micro Devices

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To: Alighieri who wrote (466497)	3/26/2009 8:50:52 AM
From: Road Walker	Read Replies (3) of 1576340

Doesn't a plan that keeps the base assets from defaulting also invalidate CDSs in a sense by preventing them from being triggered? and isn't that what Geithner's plan tries to do indirectly ? Yes but the base assets for the collateralized mortgages are housing prices, and it's pretty difficult to prop them up. If you just make null and void the highly leveraged CDSs (insurance) then you eliminate the huge liabilities that companies like AIG have accrued.

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