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

bpuharic

On Sun, 09 May 2010 15:55:26 -0400, wrote:

On Sun, 09 May 2010 14:49:26 -0400, bpuharic wrote:

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.

You seem to be confusing "value" and "price".

There were people who paid a thousand dollars for a cabbage patch doll
but that did not mean they were worth $1000. A year later they were 99
cents at the Goodwill.

IOW you dont know what a financial instrument is.

figures. no wonder you want to blame the middle class.