Holy crap, the Pope nails it!

[Mac1958]

Pope Calls Derivatives Market a ‘Ticking Time Bomb’

Holy crap, um, no pun intended.

Credit Default Swaps played a huge role in the Meltdown, and I don't know how the hell (no pun intended) they got on the Popester's radar, but he's absolutely right.

Even worse are synthetic CDSs, which are nothing more than bets on bets.

Well done!
.

 

[Toddsterpatriot]

Pope Calls Derivatives Market a ‘Ticking Time Bomb’

Holy crap, um, no pun intended.

Credit Default Swaps played a huge role in the Meltdown, and I don't know how the hell (no pun intended) they got on the Popester's radar, but he's absolutely right.

Even worse are synthetic CDSs, which are nothing more than bets on bets.

Well done!
.

Credit Default Swaps played a huge role in the Meltdown

Still baloney.

Not a single bank failed, or came close to failing, because of CDS.
The crisis would still have happened even if CDS had never been invented.

Bad mortgages and leverage...….

Even worse are synthetic CDSs,

As opposed to natural CDS? LOL!

 

[Mac1958]

Pope Calls Derivatives Market a ‘Ticking Time Bomb’

Holy crap, um, no pun intended.

Credit Default Swaps played a huge role in the Meltdown, and I don't know how the hell (no pun intended) they got on the Popester's radar, but he's absolutely right.

Even worse are synthetic CDSs, which are nothing more than bets on bets.

Well done!
.

Credit Default Swaps played a huge role in the Meltdown

Still baloney.

Not a single bank failed, or came close to failing, because of CDS.
The crisis would still have happened even if CDS had never been invented.

Bad mortgages and leverage...….

Even worse are synthetic CDSs,

As opposed to natural CDS? LOL!

Yes, that's the standard talk radio line.

Back to the real world: The banks, along with AIG (which was selling these things like candy with ZERO reserve requirements), merely had to be BAILED OUT because they hedged their shit securities with swaps.

The amount of factual information that has to be ignored and avoided to go down that road is simply staggering.

This alternate reality shit is scary.
.

 

[Toddsterpatriot]

Pope Calls Derivatives Market a ‘Ticking Time Bomb’

Holy crap, um, no pun intended.

Credit Default Swaps played a huge role in the Meltdown, and I don't know how the hell (no pun intended) they got on the Popester's radar, but he's absolutely right.

Even worse are synthetic CDSs, which are nothing more than bets on bets.

Well done!
.

Credit Default Swaps played a huge role in the Meltdown

Still baloney.

Not a single bank failed, or came close to failing, because of CDS.
The crisis would still have happened even if CDS had never been invented.

Bad mortgages and leverage...….

Even worse are synthetic CDSs,

As opposed to natural CDS? LOL!

Yes, that's the standard talk radio line.

The amount of factual information that has to be ignored and avoided to go down that road is simply staggering.
.

I guess if you can show how much Bear Stearns and Lehmann lost due to CDS versus mortgages and bonds,
this claim would be more convincing.

Or how much Fannie and Freddie lost due to CDS?

Otherwise, I'm going to continue mocking this silly fact free claim.

Still laughing about synthetic CDS.

 

[Mac1958]

Pope Calls Derivatives Market a ‘Ticking Time Bomb’

Holy crap, um, no pun intended.

Credit Default Swaps played a huge role in the Meltdown, and I don't know how the hell (no pun intended) they got on the Popester's radar, but he's absolutely right.

Even worse are synthetic CDSs, which are nothing more than bets on bets.

Well done!
.

Credit Default Swaps played a huge role in the Meltdown

Still baloney.

Not a single bank failed, or came close to failing, because of CDS.
The crisis would still have happened even if CDS had never been invented.

Bad mortgages and leverage...….

Even worse are synthetic CDSs,

As opposed to natural CDS? LOL!

Yes, that's the standard talk radio line.

The amount of factual information that has to be ignored and avoided to go down that road is simply staggering.
.

I guess if you can show how much Bear Stearns and Lehmann lost due to CDS versus mortgages and bonds,
this claim would be more convincing.

Or how much Fannie and Freddie lost due to CDS?

Otherwise, I'm going to continue mocking this silly fact free claim.

Still laughing about synthetic CDS.

You just completely ignored the point.

No one has said that swaps were the ONLY reason for the Meltdown, but that's the game you're playing.

Spend a few years in my profession and maybe you'll learn something.
.

 

[Toddsterpatriot]

Pope Calls Derivatives Market a ‘Ticking Time Bomb’

Holy crap, um, no pun intended.

Credit Default Swaps played a huge role in the Meltdown, and I don't know how the hell (no pun intended) they got on the Popester's radar, but he's absolutely right.

Even worse are synthetic CDSs, which are nothing more than bets on bets.

Well done!
.

Credit Default Swaps played a huge role in the Meltdown

Still baloney.

Not a single bank failed, or came close to failing, because of CDS.
The crisis would still have happened even if CDS had never been invented.

Bad mortgages and leverage...….

Even worse are synthetic CDSs,

As opposed to natural CDS? LOL!

Yes, that's the standard talk radio line.

The amount of factual information that has to be ignored and avoided to go down that road is simply staggering.
.

I guess if you can show how much Bear Stearns and Lehmann lost due to CDS versus mortgages and bonds,
this claim would be more convincing.

Or how much Fannie and Freddie lost due to CDS?

Otherwise, I'm going to continue mocking this silly fact free claim.

Still laughing about synthetic CDS.

You just completely ignored the point.

No one has said that swaps were the ONLY reason for the Meltdown, but that's the game you're playing.

Spend a few years in my profession and maybe you'll learn something.
.

Credit Default Swaps played a huge role in the Meltdown,

Be more specific. 3%? 5%? More?

 

[Mac1958]

Pope Calls Derivatives Market a ‘Ticking Time Bomb’

Holy crap, um, no pun intended.

Credit Default Swaps played a huge role in the Meltdown, and I don't know how the hell (no pun intended) they got on the Popester's radar, but he's absolutely right.

Even worse are synthetic CDSs, which are nothing more than bets on bets.

Well done!
.

Credit Default Swaps played a huge role in the Meltdown

Still baloney.

Not a single bank failed, or came close to failing, because of CDS.
The crisis would still have happened even if CDS had never been invented.

Bad mortgages and leverage...….

Even worse are synthetic CDSs,

As opposed to natural CDS? LOL!

Yes, that's the standard talk radio line.

The amount of factual information that has to be ignored and avoided to go down that road is simply staggering.
.

I guess if you can show how much Bear Stearns and Lehmann lost due to CDS versus mortgages and bonds,
this claim would be more convincing.

Or how much Fannie and Freddie lost due to CDS?

Otherwise, I'm going to continue mocking this silly fact free claim.

Still laughing about synthetic CDS.

You just completely ignored the point.

No one has said that swaps were the ONLY reason for the Meltdown, but that's the game you're playing.

Spend a few years in my profession and maybe you'll learn something.
.

Credit Default Swaps played a huge role in the Meltdown,

Be more specific. 3%? 5%? More?

More. Along with the ratings agencies that gave Treasury-level ratings to shit securities, banks that pushed shit securities while they were also shorting them, mortgage companies that were writing comically shit loans because they knew they'd sell them off by midnight, banks that reached 30/1 and 40/1 leverage, politicians who remained willfully ignorant, regulators who refused to regulate, and a few other things.
.

 

[Toddsterpatriot]

Credit Default Swaps played a huge role in the Meltdown

Still baloney.

Not a single bank failed, or came close to failing, because of CDS.
The crisis would still have happened even if CDS had never been invented.

Bad mortgages and leverage...….

Even worse are synthetic CDSs,

As opposed to natural CDS? LOL!

Yes, that's the standard talk radio line.

The amount of factual information that has to be ignored and avoided to go down that road is simply staggering.
.

I guess if you can show how much Bear Stearns and Lehmann lost due to CDS versus mortgages and bonds,
this claim would be more convincing.

Or how much Fannie and Freddie lost due to CDS?

Otherwise, I'm going to continue mocking this silly fact free claim.

Still laughing about synthetic CDS.

You just completely ignored the point.

No one has said that swaps were the ONLY reason for the Meltdown, but that's the game you're playing.

Spend a few years in my profession and maybe you'll learn something.
.

Credit Default Swaps played a huge role in the Meltdown,

Be more specific. 3%? 5%? More?

More. Along with the ratings agencies that gave Treasury-level ratings to shit securities, banks that pushed shit securities while they were also shorting them, mortgage companies that were writing comically shit loans because they knew they'd sell them off by midnight, regulators who refused to regulate, and a few other things.
.

More.

How much? 6%?

Along with the ratings agencies that gave Treasury-level ratings to shit securities,

This was probably a much larger factor than CDS.

banks that pushed shit securities while they were also shorting them

Tiny, tiny amount of securities. Much, much smaller than CDS.

 

[Mac1958]

Yes, that's the standard talk radio line.

The amount of factual information that has to be ignored and avoided to go down that road is simply staggering.
.

I guess if you can show how much Bear Stearns and Lehmann lost due to CDS versus mortgages and bonds,
this claim would be more convincing.

Or how much Fannie and Freddie lost due to CDS?

Otherwise, I'm going to continue mocking this silly fact free claim.

Still laughing about synthetic CDS.

You just completely ignored the point.

No one has said that swaps were the ONLY reason for the Meltdown, but that's the game you're playing.

Spend a few years in my profession and maybe you'll learn something.
.

Credit Default Swaps played a huge role in the Meltdown,

Be more specific. 3%? 5%? More?

More. Along with the ratings agencies that gave Treasury-level ratings to shit securities, banks that pushed shit securities while they were also shorting them, mortgage companies that were writing comically shit loans because they knew they'd sell them off by midnight, regulators who refused to regulate, and a few other things.
.

More.

How much? 6%?

Along with the ratings agencies that gave Treasury-level ratings to shit securities,

This was probably a much larger factor than CDS.

banks that pushed shit securities while they were also shorting them

Tiny, tiny amount of securities. Much, much smaller than CDS.

Great, thanks for your opinion.
.

 

[Toddsterpatriot]

Pope Calls Derivatives Market a ‘Ticking Time Bomb’

Holy crap, um, no pun intended.

Credit Default Swaps played a huge role in the Meltdown, and I don't know how the hell (no pun intended) they got on the Popester's radar, but he's absolutely right.

Even worse are synthetic CDSs, which are nothing more than bets on bets.

Well done!
.

Credit Default Swaps played a huge role in the Meltdown

Still baloney.

Not a single bank failed, or came close to failing, because of CDS.
The crisis would still have happened even if CDS had never been invented.

Bad mortgages and leverage...….

Even worse are synthetic CDSs,

As opposed to natural CDS? LOL!

Yes, that's the standard talk radio line.

Back to the real world: The banks, along with AIG (which was selling these things like candy with ZERO reserve requirements), merely had to be BAILED OUT because they hedged their shit securities with swaps.
The banks, along with AIG (which was selling these things like candy with ZERO reserve requirements), merely had to be BAILED OUT because they hedged their shit securities with swaps.

The amount of factual information that has to be ignored and avoided to go down that road is simply staggering.

This alternate reality shit is scary.
.

Yes, that's the standard talk radio line.

Ignorant whining about CDS is much more the talk show line.

The banks, along with AIG (which was selling these things like candy with ZERO reserve requirements),

Get back to me with the amount of CDS they sold, you might dial back your hyperbole.

merely had to be BAILED OUT because they hedged their shit securities with swaps.

And, again, even without the invention of CDS, they'd still be sitting there with this shit on their balance sheets.

 

[Toddsterpatriot]

Credit Default Swaps played a huge role in the Meltdown

Still baloney.

Not a single bank failed, or came close to failing, because of CDS.
The crisis would still have happened even if CDS had never been invented.

Bad mortgages and leverage...….

Even worse are synthetic CDSs,

As opposed to natural CDS? LOL!

Yes, that's the standard talk radio line.

The amount of factual information that has to be ignored and avoided to go down that road is simply staggering.
.

I guess if you can show how much Bear Stearns and Lehmann lost due to CDS versus mortgages and bonds,
this claim would be more convincing.

Or how much Fannie and Freddie lost due to CDS?

Otherwise, I'm going to continue mocking this silly fact free claim.

Still laughing about synthetic CDS.

You just completely ignored the point.

No one has said that swaps were the ONLY reason for the Meltdown, but that's the game you're playing.

Spend a few years in my profession and maybe you'll learn something.
.

Credit Default Swaps played a huge role in the Meltdown,

Be more specific. 3%? 5%? More?

More. Along with the ratings agencies that gave Treasury-level ratings to shit securities, banks that pushed shit securities while they were also shorting them, mortgage companies that were writing comically shit loans because they knew they'd sell them off by midnight, banks that reached 30/1 and 40/1 leverage, politicians who remained willfully ignorant, regulators who refused to regulate, and a few other things.
.

banks that reached 30/1 and 40/1 leverage,

Yeah, buy shit with leverage (funded by overnight loans), you're asking for trouble.
That's why Bear failed, with nary a peep about CDS.

 

[william the wie]

After 2004 the entire market was smoke and mirrors.