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Reply #2: Flash of blinding insight....they did this to COUNTIRES, too! [View All]

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Home » Discuss » Topic Forums » Economy

dixiegrrrrl

(1000+ posts) Send PM | Profile | Ignore

Sat Apr-10-10 03:11 PM
Response to Original message

2. Flash of blinding insight....they did this to COUNTIRES, too!

Edited on Sat Apr-10-10 03:12 PM by dixiegrrrrl

Since a CDO can have ANY kind of debt inside them, they can have a city, a county, or a countries's debt
( bonds) and bet against the debt being paid off.
They can, in effect, bankrupt the world.

Plus...this is getting so much better...one "group" of say, Goldman Sachs can make money by selling the bonds for the city, another "group" of GS can make money by packaging the CDOs, a 3rd "group"
can be GS Hedge fund people to bet against them.
I think I got that right, yes?

edit: add link

http://sacramentofordemocracy.org/?q=node/34883

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