American Presidential Politics and foreign affairs Message Board

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Politics : American Presidential Politics and foreign affairs

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To: TimF who wrote (39769)	12/21/2009 1:54:23 PM
From: DuckTapeSunroof	Read Replies (1) of 71588

The MARKET adopted M.P.T.'s prescriptions (because it opened vast vistas of wealth-making for them), not the other way around. And the "magic" of securitization, (turning 'dross into gold' by the statistical magic of geographic and multi-market diversification and fancy computer models) extended FAR BEYOND the tiny confines of merely American sub-prime single family mortgage markets... and penetrated fully all Commercial Real Estate markets around the world (malls, skyscrapers and such), Asset-Backeds of all kinds (credit card receivables, commercial receivables, floating rate business notes, registered bonds), Commercial Fixed Income markets of all kinds - even sovereign national debt markets, etc., etc., etc.

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