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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: GuinnessGuy who wrote (117043)	11/23/2008 2:19:20 AM
From: Skeeter Bug	1 Recommendation Read Replies (1) \| Respond to of 132070

GG, but the reason CDS have shut down credit markets is because they are nuclear when taken in the aggregate. they could bring down the world's major financial institutions with nobody left standing. we aren't taking some pain, here, we are talking financial death. $40-$55 trillion (unfunded, of course) bet on weak sister companies and bad mortgages failing... and more and more fail every single day. and clinton was all for letting these nuclear assets go 100% unregulated. as were the bushevics.