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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Box-By-The-Riviera™ who wrote (342264)	8/29/2007 9:03:14 PM
From: stan_hughes	Read Replies (1) \| Respond to of 436258

But it was the banks who loaned the capital to the gunslingers who sold the original CDO paper, and those same gunslingers then also greedied up another notch and wrote CDS on the same crappy paper, and for added measure, they also left those contingent liabilities off their balance sheets. Meaning that when the swaps get called, whatever is left of the gunslinger crowd that wrote those swaps is going to go BOOM the same day and not be able to pay anybody back -- so in turn we will come full circle, leaving the original lending banks to ultimately get stiffed here when all is said and done. Mark my words, this mess is still going to come back and bite somebody public in the ass