Pre Revolutionary America

[AzariLoveIran]

[Mr. Perfect]

[skyhook77sfg]

at west point this line of talk is called quibbling (half truth) and is a punishable offense

the whole truth is contained herein:

Although many factors contributed to the financial meltdown of 2007 and 2008, principal among them was the collapse of the market in over-the-counter (“OTC”) derivatives. The OTC market in credit default swaps provided the trigger that launched the mortgage crisis, credit crisis, and systemic financial crisis that threatened to implode the global financial system, were it not for a trillion dollar U.S. taxpayer intervention. At the time of the crisis, this market was estimated to have a notional value of $596 trillion, including approximately $58 trillion in credit default swaps....


http://www.rooseveltinstitute.org/%5Bme ... dodd-frank

[Mr. Perfect]

[skyhook77sfg]

YOU MISTAKE THE BEATING OF A BUTTERFLY WING IN MEXICO
FOR THE HURRICANE THAT DEVASTATED THAT CAJUN CITY

WHERE DUBYA SAID BROWNIE WAS DOING SUCH A GOOD JOB


it was the inability of wall street gamblers to pay off their naked CDS bets

that created the systemic risk their made man at treasury screamed about...

the underlying "shit" the crooks had packaged and sold was the butterfly

the highly leveraged derivatives were Katrina...

but you just cant admit it...


r

[Mr. Perfect]

You mistake cause and effect. Mortgages are like other securities, there will always be a desire for leverage and insurance. Derivatives are only one way to provide insurance and leverage. SO it has nothing to do with derivatives. Slamming derivatives is just for anti-intellectual populist ferverism.

The bottom line is that had that mortgage market not collapsed none of this would have happened. But you cannot admit that fact, I would guess because of ideological and political biases. I would advise that when the truth is at odds with your biases, you should re-evaluate your biases, not try to change the truth.

And since when did you put any stock in anything said by Hank Paulson? I don't.

[skyhook77sfg]

time to stop belaboring a draw

your point it wouldnt have happened w/o underlying mortgageasset failure is as valid

as mine that the collapse wouldnt have happened w/o unregulated leveraged CDS derivatives

lets not annoy everyone by plowing the same plot over and over again

basta

[AzariLoveIran]

[skyhook77sfg]

fart?

nuclear turd more like it...

will be out of touch for a while

happy trails till we meet agaion