MUST READ: Important News
OK - the secret is out of the bag - the secret behind the collapse is not HOUSING, but the DERIVATIVE market: read this one!!!
OpEdNews ยป It's the Derivatives, Stupid! Why Fannie, Freddie and AIG Had to Be Bailed Out: "What had to be saved at all costs was not housing or the dollar but the financial derivatives industry; and the precipice from which it had to be saved was an 'event of default' that could have collapsed a quadrillion dollar derivatives bubble, a collapse that could take the entire global banking system down with it."
OpEdNews ยป It's the Derivatives, Stupid! Why Fannie, Freddie and AIG Had to Be Bailed Out: "What had to be saved at all costs was not housing or the dollar but the financial derivatives industry; and the precipice from which it had to be saved was an 'event of default' that could have collapsed a quadrillion dollar derivatives bubble, a collapse that could take the entire global banking system down with it."
posted by Tolli at 12:33 AM
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