CDS= credit default swaps
What brought down AIG and what got Goldman Sachs 10 billion free dollars when Goldman’s whore Tim Guithner bailed them out. Goldman Sachs has more whore in the 0bama regime than just Geithner and they infiltrated GWBush’s administration too with Paulson and others
CDS is an insurance contract that one Bankster or Wall St wise guy buys from another to insure that a dicey security (bond maybe) he just bought will not default or go into semi-default. With that CDS contract in hand the bond holder will demand the CDS issuer to make him whole. To rebuild the house that burned down or the part of the house that burned down
CDS is an insurance contract that one Bankster or Wall St wise guy buys from another to insure that a dicey security (bond maybe) he just bought will not default or go into semi-default. With that CDS contract in hand the bond holder will demand the CDS issuer to make him whole. To rebuild the house that burned down or the part of the house that burned down.
I think CDS's should be illegal. They are what I call a "cascade" investment. Trying to take the same profit from one investment three or four times over is a total scam.