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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: SGJ who wrote (60042)	2/25/2009 11:42:07 AM
From: kathtoo	Read Replies (1) \| Respond to of 224729

Ha Ha! That is almost hilarious, if it wasn't so untrue. What do I know about derivatives. NOTHING. Who in the hell can figure them out? Didn't you see Greenspan on the CNBC special House of Cards saying that he can get something like a dozen PHD's on the phone and these instruments are so convoluted, he can't figure them out. Trillions have been disappearing down the black hole what is derivatives. That is the big un-talked about facts about this mess. That is why they can't fix it. So much easier to blame some black guy that tried to buy a house. The dollars of instruments gone bad is 32X leverage at the beginning of this mess. The big banks have been cancelling contracts between each other and have cancelled billions of dollars of counter party instruments. If you have one $500k mortgage, it means that at one point it was levered up to $16,000,0000. ONE MORTGAGE. Think of how many mortgages there are. 32X leverage on them. WHY IS YOUR CONSERVATIVE TALK RADIO NOT TALKING ABOUT THIS? How can you be on SI and not know this?