BoatBanter.com - View Single Post - economist blames wall street for collapse

bpuharic

On Sun, 09 May 2010 11:33:20 -0400, wrote:

On Sun, 09 May 2010 08:02:32 -0600, Canuck57
wrote:

On 08/05/2010 10:23 PM, wrote:
On Sat, 08 May 2010 12:04:28 -0400, wrote:

in 1 day wall street wipes out a TRILLION DOLLARS from the
economy.

It was a trillion that never really existed in the first place. It was
just phony paper "money" they created out of thin air.

Some real truth to that. If you exclude dividents, where there is a
winner there is a loser. A zero sum game. The economy is say worth 100
units. Than the market swings are irrelivant, your percentage of the
units is all that maters.

Being a zero sum game, the odds are better than Vegas.

BP usually limits this rant to the CDOs and there is no equity
position in them.

do you know what the value of CDO's was in 2006? care to look it up?

yeah, i bitch about CDO's. because unlike you, i know how leveraged
they were.

you blame the middle class...