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onwebcam · 02-09-2009, 03:35 PM

When are people going to get it. THIS has NOTHING to do with people buying houses they couldn't afford. Sure it was a very small fraction of the problem. If you have houses increasing 10% a year and wages stagnant where do yo think that ends up? The real problem is and was derivatives/CDO/CDS. There are 1.4 quadrillion in derivatives floating around the world. This is the problem. None of these extremely rich folks/companies want to eat their loses so they are taking everyone else down.

02-09-2009, 03:35 PM
onwebcam Fake Nick 1.0 Industry Role: Join Date: Oct 2005 Location: Rent free, your head Posts: 27,653	When are people going to get it. THIS has NOTHING to do with people buying houses they couldn't afford. Sure it was a very small fraction of the problem. If you have houses increasing 10% a year and wages stagnant where do yo think that ends up? The real problem is and was derivatives/CDO/CDS. There are 1.4 quadrillion in derivatives floating around the world. This is the problem. None of these extremely rich folks/companies want to eat their loses so they are taking everyone else down. __________________ PLEASE WAIT WHILE BIDEN ADMIN UNINSTALLS ITSELF..... ██████████████████▒ 99.5% complete. Last edited by onwebcam; 02-09-2009 at 03:38 PM..