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Politics : American Presidential Politics and foreign affairs

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To: TimF who wrote (40093)	12/31/2009 3:41:35 AM
From: DuckTapeSunroof	Read Replies (1) of 71588

Any single factor that amounts to 15% or LESS of the total financial Bubble/Crisis/Bust (as sub-prime surely does) is a 'mouse' to me. (Even if it's a pretty big and hairy mouse.) Some larger components of the financial bust (larger, or at least as large each, as sub-prime): Un-secured, and unregulated, Credit Default Swaps. (Sold in massively larger amounts, and often nearly completely non-collateralized.) Commercial Real Estate. Over-leveraged investment firms. Jumbo mortgages. Asset-backeds of other kinds. (Bundled credit card debt, vehicle loans, etc., etc.) (Not to mention fraud in appraisals, fraud and self-dealing from ratings agencies, fraud in securitizations, among other formative factors.) Sub-prime (ALL the entire WORLD'S sub-prime, collectively) could not possibly add up to any more then 15% of the bubble and collapse. (Probably far less then that.) It may arguably be a trigger but --- with such massive amounts of 'kindling' laying around --- all it took was a spark... any spark would have sufficed.

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