This is one of the better explanations of Mortgage Backed Securities and Credit Default Swaps that I've found.
To: ThePythonicCow
The real question is: Who is going to compensate the common investors across the world who have lost their wealth in the resultant market meltdown? Uh--excuse me?
Who says these investors should expect to be compensated?
2 posted on
10/05/2008 11:51:47 PM PDT by
Darkwolf377
(I've got a bracelet, too. From Sergeant..... uuuuuuuhhhhhhh...)
To: ThePythonicCow
This is an excellent read, thanks for posting it.
I know next to zilch about this kind of thing, but this is a lot of food for thought.
4 posted on
10/05/2008 11:54:40 PM PDT by
Darkwolf377
(I've got a bracelet, too. From Sergeant..... uuuuuuuhhhhhhh...)
To: ThePythonicCow
5 posted on
10/06/2008 12:00:36 AM PDT by
politicket
(Palin-tology: (n) - The science of kicking Barack Obambi's butt!)
To: ThePythonicCow
Wow!! I just checked the Dow futures before heading off to bed. They had been down about 165. Now they're down about 215.
An interesting day awaits.
6 posted on
10/06/2008 12:02:10 AM PDT by
politicket
(Palin-tology: (n) - The science of kicking Barack Obambi's butt!)
To: ThePythonicCow
7 posted on
10/06/2008 12:13:20 AM PDT by
Attention Surplus Disorder
(Tired from wondering whether we wake up in the newest socialist country tomorrow.)
To: ThePythonicCow
That’s a great piece. The only thing that it missed was the recycling of the 1970s ballooning payment plans with new propaganda and so forth for the new schemes against overly optimistic buyers.
10 posted on
10/06/2008 12:43:03 AM PDT by
familyop
(cbt. engr. (cbt), NG, '89-'96, Duncan Hunter or no-vote)
To: ThePythonicCow
The downturn will also hinder importers who are trying to switch from China to cheaper third-world sources of labor.
11 posted on
10/06/2008 12:47:53 AM PDT by
familyop
(cbt. engr. (cbt), NG, '89-'96, Duncan Hunter or no-vote)
To: ThePythonicCow
12 posted on
10/06/2008 1:27:08 AM PDT by
Bellflower
(A Brand New Day Is Coming!)
To: ThePythonicCow
Even IF these supposed geniuses didn't realize what a house of cards things were, how is it that, since they are essentially betting on the entire US housing market, they were not looking at the demographics of the US population?
They would have realized that the Baby Boomers are not buying but in fact, selling their homes and starting to downsize as they retire. And the next segment of the population is smaller, meaning that they will need less homes in total.
14 posted on
10/06/2008 4:00:50 AM PDT by
ikka
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