Monday, Jul 06, 2009
What Cooked the World's Economy? - It wasn't your overdue mortgage.
Truthout: What Cooked the World's Economy?
The advantage of treating these credit derivatives players like racketeers under federal law is that their ill-gotten gains could be forfeited. The government could recoup these odious gambling debts instead of simply paying them off. In finance, the bottom line is the bottom line. The bottom line in this scandal is that fantastically wealthy entities positioned themselves to make unfathomable fortunes by betting that average Americans - Joe Six-Packs and hockey moms - would fail.
Posted by mountain goat @ 02:41 PM (330 views) Add Comment
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