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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (70433)	9/18/2008 3:06:23 PM
From: Maurice Winn	2 Recommendations Read Replies (1) \| Respond to of 74559

with less style, panache and verve, but perhaps with more credibility since "brand" is so important to people rather than content, here is Warren Buffett on the cause of the crash. seekingalpha.com I notice that he doesn't blame Alan Green$pan very much. He doesn't even use the word Greenspan. His sidekick Charlie and he were like-minded on the matter. For years, it has been obvious that derivatives piled on leveraged securities had the potential to implode. Now, with more realistic valuations being put on property and all that flowed from it, up into $trillions of derivatives, the true value of those running the companies is being exposed. It turns out [no surprise really] that they were paid huge bonuses and salaries for making up valuations and "earnings". When people go to the supermarket or petrol stations, they have to use actual money, not strange financial instruments. Mqurice