And who is at fault?

[likwid]

Originally Posted by striperman36

maybe somebody, likwid, whoever, can tell me how this works

http://en.wikipedia.org/wiki/Credit_default_swap

Grab a cup of coffee and read this: http://accruedint.blogspot.com/2007/...-cds-work.html

And the comments.

More of less his explanation like an insurance policy is a VAST simplification but accurate.

There's no money to pay out the policy.

Honestly, I want to see the hedgefunds all crash hard and regulations put back in place. They need to be cleared out and the system set back a few years. This was predicted during the dotcoms that sooner or later it'd all come crashing down. People were loaning money like it was going out of style, they came down, it stopped (briefly) then started up all over again.

Honestly crap will sort itself out, we'll go back to freaking out about oil. Green energy will be the place to pour money into (already is... drive by TPI some time... they're turning out blades more than boats) and it'll hit a critical mass and come crashing down.