Derivatives?
But I thought the world-wide economic crisis was caused by naive bankers who were bullied into giving loans to inner-city minorities because of political correctness.
Kool-aid drinker sarc off/
Part of the problem to be sure and Democrats are 100% to blame for the Fannie Mae mess
But the entire sub prime mortgage crisis involved people of all incomes.
The mortgage mess is somewhat containable. Expensive but containable
It's the credit default swaps from AIG and Wall St that are the killers. And they are derivatives also known as financial weapons of mass destruction as Warren Buffet called them six years ago
The subprimes were easily manageable. It’s the derivative issue that bites hard. Those are what have the potential to and have caused the real damage.