Category Archives: Collateralized Debt Obligation

Drowning in digits: National, Unfunded Liabilities, State, and Derivative Debt

Just about everyone I know believes in the permanence of the Dollar, the Eternal Supremacy of the United States, and the propaganda to constantly grow their money by taking risks. So they dutifully feed hard-earned wages into the voracious slot … Continue reading

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The Fall of AIG

2 articles below: March 18, 2009  The Real AIG Scandal by Eliot Spitzer slate.com It’s not the bonuses. It’s that AIG’s counterparties are getting paid back in full. Everybody is rushing to condemn AIG’s bonuses, but this simple scandal is … Continue reading

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Credit Default Swaps & CDO’s

Why Wall St. Needed Credit Default Swaps http://seekingalpha.com/article/73060-why-wall-st-needed-credit-default-swaps Take a CDO with a 50 basis point spread over US Treasures. Banks will buy credit default swaps costing them 20 basis points, but by doing so, even they seem to make … Continue reading

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