To: GOPJ
The fed can cut the rate to 0 - congress can bail out til there's nothing - and the derivative bets still won't be paid off... At some point, the derivative "winners" are going to have to accept that they didn't actually win anything - their lotto numbers came up, but there is no money to pay out the jackpot.
213 posted on
10/08/2008 6:58:52 AM PDT by
Mr. Jeeves
("One man's 'magic' is another man's engineering. 'Supernatural' is a null word." -- Robert Heinlein)
To: Mr. Jeeves
At some point, the derivative "winners" are going to have to accept that they didn't actually win anything - their lotto numbers came up, but there is no money to pay out the jackpot. If that happens we might get out of this - but I suspect people with that much money on the table aren't going to give up easily. This "mark" crap is a delaying tactic for the big boys... and if that doesn't work, there will be others... They're going to do what it takes to get their moeny out of this mess ...
216 posted on
10/08/2008 7:09:23 AM PDT by
GOPJ
(Derivative traders HAVE MADE MORE MONEY THAN EXISTS - Bailouts & rate cuts to ZERO won't work.)
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