I think the issue of CREDIT DEFAULT SWAPS needs to be addressed as one of the major drivers of demand.
These banks would not have been willing to buy more cdos, mbs or anything had they not been able to start buying CDS as form of hedge against complete financial meltdown. They were gambling with the economy knowing either way they were going to make out ahead. The bailouts paid directly to the liks of Citi and Goldman, then indirectly through AIG bailout. The demdan would have dropped off as it did in other over heated real estate markets before complete implotion if it was not for CDS
I think the issue of CREDIT DEFAULT SWAPS needs to be addressed as one of the major drivers of demand.
These banks would not have been willing to buy more cdos, mbs or anything had they not been able to start buying CDS as form of hedge against complete financial meltdown. They were gambling with the economy knowing either way they were going to make out ahead. The bailouts paid directly to the liks of Citi and Goldman, then indirectly through AIG bailout. The demdan would have dropped off as it did in other over heated real estate markets before complete implotion if it was not for CDS
GREAT JOB 4CLOSURE FRAUD!!! WE CAN’T STOP RAGING AGAINST THE MACHINE. I THINK IT IS WORKING. GOD BLESS AMERICA!!!!