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Alan Greenspan proclaimed that central bankers can’t foresee or forestall bubbles
Don: First off, great article! Really enjoyed it, and I think you'd have more fun being a Goldfish expert than an advisior to Obama right now--not the easiest job in the world! So here's my take. The only thing that was being traded was default risk. Why would they (AIG) worry about managing it? To good to be true ratings on shady MBS's from Moody's = less capital set aside and astronomical leverage. Voila!!!! Eveyone freaked, bubble broke, companies died overnight, big players bought the CDS protection (synthetic short sale) knowing, encouraging, and excited that these companies were going to zero and then were made whole and very rich. So Don, how do you feel about the talk of the credit market risks and Asset Backed Securities (ABS) that are floating around loaded with auto loans, credit card debt, student loans, and home equity loans? With so many out of work, prime for default, and losing their jobs in large numbers, wouldn't that be the next inevitable crisis looming? Let me know what you think! And buy my one page book entitled "Don't buy things you can't afford."— September 16, 2009 8:20 p.m.
Boozing with Shamu
Hey, if you ever want to visit your money--take a trip to Dubai. Get ready for more of this from a nation that's got more money than it knows what to do with..... They're seriously looking for any way that they can invest their trillions in idle money, so why not SeaWorld. Bye Shamu, been nice knowing you!— July 5, 2008 11:37 p.m.
Do Immigrants Make Better Neighbors?
#5 & #6 You are the reason that I've lost all faith in humanity. Fight, get angry, I'm better than you, this is how you're supposed to live, we will be the majority? What's wrong with you? It's difficult to live in this town and hear you whine! You should both be shipped off to "Negative Island" so you can show eachother that big bag of hate that you carry around with you...... Congratulations!— May 19, 2008 2:21 p.m.