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View Diary: Some Credit Swaps knowledge, Please (51 comments)

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  •  And it's much more than mortgages. (2+ / 0-)
    Recommended by:
    lgmcp, dotsright

    So the apparent value of these things is huge.

    Warren Buffet called them financial weapons of mass destruction in 2002. He forbid any of his organizations from holding them.

    Guess who's doing well today?

    "It's the planet, stupid."

    by FishOutofWater on Tue Oct 07, 2008 at 02:11:13 PM PDT

    [ Parent ]

    •  to be fair... (1+ / 0-)
      Recommended by:
      bubbanomics

      he was referring to all derivatives bought as a way to make money rather than as a hedge.  That applies to stock options, futures, etc all of which are very regulated.

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