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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: axial who wrote (19110)	3/26/2009 10:08:36 AM
From: Amelia Carhartt	1 Recommendation Respond to of 71475

That's absolutely true. The financial road hell began back in the 1980's when I was in investment banking. This was when the country started minting fresh new MBA's who had just discovered Lotus. From that time on most lending was done on a cash flow basis or on the come. And, the cash flow was generated by the assumptions of 25 year old's with absolutely no business experience. It's also when interest rate swaps were created. That meant any crappy company could get a loan. And, the loans showed up on no ones balance sheet. And, the loans were not onesies and twosies. They were huge then so must be monstrous today. This is where the real monster resides. This is reason no one knows how big the derivatives mess is. But, just imagine it has been building for 25 years!