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To: Secret_Agent_Man who wrote (382025)3/12/2009 6:58:00 PM
From: Giordano Bruno  Read Replies (1) | Respond to of 436258
 
The market can't truly function without cheating.



To: Secret_Agent_Man who wrote (382025)3/12/2009 7:16:24 PM
From: Real Man  Respond to of 436258
 
Geez, CDS blowup just led to excessive shorting of underlying
shares by the fudged up insurance companies like AIG (hedging
of written contracts 12x the amount of bonds). Very
excessive. The only real loss to the system is what is lost
in the stock market meltdown and the mortgage meltdown.
Still a lot, but we've been through this before. This shorting
drove a lot of companies to values unseen for decades.
2007 in reverse. -g-