September 30, 2008
– Comments (1)
I thought this piece was worth sharing.
The author is saying the bailout is to protect the mortgage backed paper and derivatives.
THANK YOU for sharing that!!!
that article writer is a hero. send praise their way.
definitely a must read.
Bailout was largely about saving the biggest financial's exposure to losses on the Credit Default Swaps (CDS). the monster they created for profit that had been ridden up to $63 trillion (not billion, trillion!!). We taxpayers aint going to pay for that shizzie.
Karl Denninger addresses the problem of the CDS monster.
Check this out, the solution to the mess, posted today by Karl Denninger from fedupusa.org / market ticker;