Quote:
Originally Posted by kerry
Definitely, if it was insured and I was guaranteed a full return if the lender defaulted. One of the most absurd components of these credit default swaps is that anyone could take out insurance on them. In other words, in addition to me buying an insurance policy on my unqualified lender, so could you. So when that lender defaulted, we would both get paid off. I wonder why AIG went under?
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i think the AIG people were... drinking their own kool-aid?
(how could you not know that real estate could not go up 10% in value a year forever? )
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"The law, in its majestic equality, forbids the rich as well as the poor to sleep under bridges, to beg in the streets, and to steal bread."
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