Economic bubbles are not recognized by those inside of them, and the entire Western world has become quietly trapped inside the largest economic bubble in history. The global financial crisis that began in 2008 has been attributed to sub-prime mortgage lending and mortgage backed securities (MBSs), such...
Posted to
Hera
by
Ron Hera
on
Tue, May 11 2010
Filed under:
Filed under: CEA, S 3217), Alan Greenspan, option, CDS, VaR, Barney Frank, Commodity Exchange Act, Brooksley Born, OTC derivatives, forward, collateralized debt obligation, Warren Buffett, Commodity Futures Modernization Act of 2000, Restoring American Financial Stability Act of 2010, Monte Carlo Simulation, swap, Value at Risk, synthetic CDO, Robert Rubin, credit default swap, Chris Dodd, George Soros, Larry Summers
The old joke goes something like this: How can you tell a politician is lying? Easy. His lips are moving. While elected officials have contributed mightily to our perception of their honesty they are not entirely responsible for their reputation. Having been an athlete for many years on all three sides...
I love you, you love me, we're a happy family, with a kiss and a hug and a smile - Woops! Wrong Barney. I was thinking of that other purple dinosaur. The one who represents Massachusets' Fourth Congressional District. Barney Frank. I'd like to say that nothing surprises me anymore, but everytime...