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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: Nihontochicken who wrote (9385)	4/27/2008 6:37:34 PM
From: Nihontochicken	Read Replies (2) \| Respond to of 50701

Here is a great article explaining why the banks got in so deep with CDS (Credit Default Swaps) on their CDOs (Collateralized Debt Obligations), namely to avoid mark-to-market reality and to immediately book forward profits. Also explains the involvement of the hedge funds, and why Bear Stearns had to be bailed out by J. P. Morgan (which company owns one-third of the $45 Trillion CDS market). tinyurl.com Apparently the whole CDO/CDS Ponzi scheme is still threatening to unravel. NC