Phil Gramm at AEI: Credit Default Swaps

[Lane4411]

Credit Default Swap's were recognized by Buffett as toxic in 2003!!!

[Lane4411]

Greeeeeee-Spannnnn

buffett realized this fact

[Lane4411]

Read "Bailout Nation", put the meltdown in perspective

[flanksteak1]

Not really Phil. The "risk" was thrust back upon the taxpayer and government and deposits were made here in the United States under the promise that they would be safe that otherwise would not have have been or at least they would have been deposited in regular banks and earned realistic interest rates.