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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (257015)	6/27/2010 2:03:39 PM
From: koan	Read Replies (2) \| Respond to of 306849

>>Sad. But what would the Republicans be doing?" --- Could they be doing worse than the D's?<< Much worse, remember the cause of the freeze up in the credit markets, and sky high libor rates was the unregulated capitalism theory of Ayn Rand which led to the CDS and CDO's. The CDS's created the massive liability of AIG that threatened to take down the worlds finanacial markets, thus the 182 billion to AIG no questions asked. AIG was really just a pass through authority to banks around the world, like Goldman Sachs who got 8 billion of it. It was the CDO's that caused the freeze up and 4% libor rates when banks quit lending to each other, realizing no one knew how much the CDO's were worth, and no way to find out, so what collateral there was and they also knew many were loaded with sub prime toxic loans. That is what caused the financial calamity. Everything else was just background noise.