they need to teach this in high-school! this is my first time hearing about this! wow! can someone answer for me if this is going on with all these bailouts that the government is doing right now. i want to learn more about this
it was reported on NPR yesterday (10/4/08) on This American Life that for the taxpayers to purchase this huge, stinking pile of garbage assets and get nothing in return is certainly possible.
However, someone in both Senate and House has added language to the bailout bill to give the Treasury Secretary the OPTION of requiring stock in the failed banks, along with the worthless assets (including the CDS).
Sort of like yes, we'll buy your bad debts, but we also get a share of your business.
This is what the bailout is all about. Rich white guys have destroyed this economy and because the same guys that destroyed the economy also own the media, they are able to blame subprime homeowners for it all.
This really is an amazingly important video and it does really suck that it's only gotten a little over a thousand views. CDS are becoming a GIANT marketplace and the general public knows jack squat about them. Thank God Mike and a handful of others are at least trying to educate the public a little bit about some of these issues.
Everybody should be watching all of Mike's videos and learning.
Gasior = Goose XD
Megacookiefan 9 months ago
was this the product which killed AIG.
osenidot 1 year ago
isnt: "gets downgraded" the key point?
wdcsucks1 1 year ago
credit default 'products' now, we are really paying him for having taken that risk. oh well pass the beer nuts
monkinator66 2 years ago
One big casino, backed by american tax payers!!!!!!!!!!
flowing2 2 years ago
Good info, just wondering, if he does his video at the Louvre, does his vacation in France become a tax write-off, y'know a business expense?
If so, sweet!
MiKikaIwaShizaru 3 years ago
SUPERB tutorial.!
had retired folks watched this, they wouldn't have been fooled by banks into
buying such high-risk products
mcgiver02 3 years ago
they need to teach this in high-school! this is my first time hearing about this! wow! can someone answer for me if this is going on with all these bailouts that the government is doing right now. i want to learn more about this
nyc11210 3 years ago
it was reported on NPR yesterday (10/4/08) on This American Life that for the taxpayers to purchase this huge, stinking pile of garbage assets and get nothing in return is certainly possible.
However, someone in both Senate and House has added language to the bailout bill to give the Treasury Secretary the OPTION of requiring stock in the failed banks, along with the worthless assets (including the CDS).
Sort of like yes, we'll buy your bad debts, but we also get a share of your business.
kinimalia 3 years ago
This is what the bailout is all about. Rich white guys have destroyed this economy and because the same guys that destroyed the economy also own the media, they are able to blame subprime homeowners for it all.
This is capitalism. The USA sux.
atlien991 2 years ago
So is it like going to an insurance broker before you go into the casino and saying, "I want to take a policy against my losing at the tables"?
dontevenjoke 3 years ago 4
ACA, Ambac and MBIA probably all going bankrupt.
banks still have billions to write down.
the fed can cut rates all they want, it won't solve this problem!
wayneg9998 4 years ago 2
Mike buddy... You are a cool dude...
Mahyar, Denmark
figifigi23 4 years ago 2
This really is an amazingly important video and it does really suck that it's only gotten a little over a thousand views. CDS are becoming a GIANT marketplace and the general public knows jack squat about them. Thank God Mike and a handful of others are at least trying to educate the public a little bit about some of these issues.
Everybody should be watching all of Mike's videos and learning.
mattinconn 4 years ago 4
If the world was sane this video would have the most views of anything on YouTube. But if the world was sane, YouTube probably wouldn't exist.
The derivatives market is 516 trillion (that's 'T' as in Tom) according to the Bloomberg financial news service. CDS are the dominant derivative.
Yet no one knows what the hell CDS even are and this video only has a thousand views.
Wake the fuck up people. The game is almost over.
atlien991 4 years ago 3