I think it was Merkel (Germany) who, in 2008, signed legislation limiting credit default swaps to value of underlying asset, AND only sold to owners of assets (required economic interest). USA said "meh, we'll just bail 'em out later."
I think it was Merkel (Germany) who, in 2008, signed legislation limiting credit default swaps to value of underlying asset, AND only sold to owners of assets (required economic interest). USA said "meh, we'll just bail 'em out later."
@SusanneTrimbath Pretty much USA financial philosophy atm, pun intended. “Create an llc to buy the crap w fresh infinite money, problem solved. I’ll worry about it when we get to that bridge…” -Kashhari and Dimon probably
@SusanneTrimbath So the economy is manipulated so to create mortgage defaults so they can collect the asset and the insurance?