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posted to rec.boats
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First recorded activity by BoatBanter: Dec 2009
Posts: 4,106
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economist blames wall street for collapse
On Sun, 09 May 2010 13:33:13 -0400, wrote:
On Sun, 09 May 2010 12:43:06 -0400, bpuharic wrote:
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?
The value was zero, the price may have been high but we now know they
were worthless ... until the government threw tax dollars at them to
give them value.
ROFLMAO!! of COURSE THEY ARE WORTHLESS YOU MORON!! that's why we're in
a DEPRESSION
in 1996 CDO's were worth 1 trillion dollars
10 years later they were worth SIXTY TWO TRILLION DOLLARS.
and yet the right wing blames the middle class for wall street greed!
all you have to do is look at the numbers...but the right doesn't DO
this because they'd rather blame working folks
yeah, i bitch about CDO's. because unlike you, i know how leveraged
they were.
"leverage" is not a valid term when there were no real assets at all.
These were just side bets on leveraged securities with no direct
collateralized connection.
exactly the ****ing point you moron. wall street sold these things
like they were $10 whores. and when they went to 62 TRILLION,
investment houses said 'hey, we made our money, but we were just
joking'...
now let main street clean up the mess
but the right still blamed main street
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