Article

2009-12-10 Economy

Former Fed Chair Volcker Blasts World Bankers; Soros Urges Ban on CDS

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Posted by Anguper Hupomosing9418 2009-12-10 00:00|| || Front Page|| [1 views ] Top

#1 How about outlawing leveraging, esp the 200-500X leverage in currency speculation? Wipe yourself out all you want but don't take another 100 unsuspecting people down with you.

Posted by ed 2009-12-10 07:04|| 2009-12-10 07:04|| Front Page Top

#2 The CEO of GE said yesterday: Rewards became perverted. The richest people made the most mistakes with the least accountability.

Posted by Anguper Hupomosing9418 2009-12-10 08:51|| 2009-12-10 08:51|| Front Page Top

#3 Credit default swaps are evil. The people that allowed them to happen are either evil or dunderheads trolling for votes. CDs were based in part on subprime loans. These were mixed with other investments. As the result no one knows the value of anything with these investments. They helped take the world economy down.

Posted by JohnQC 2009-12-10 11:23|| 2009-12-10 11:23|| Front Page Top

#4 Helped, maybe.

What really did it was regulators lowering reserves and thus creating a massive amount of credit in their currencies.

Posted by Bright Pebbles 2009-12-10 19:08|| 2009-12-10 19:08|| Front Page Top

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