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2. Credit default swaps of $64 Trillion
Sun Dec 25, 2011, 01:21 PM
Dec 2011

have morphed into $720 Trillion (est'd.) in infernal bets that things will go very wrong.

These idiots Wallison & Pinto parlay minimum insight into prejudice and ignorance. They ignore that hundreds if not thousands of times more value was lost in WORTHLESS CDO's and UNFUNDED CDS issued by AIG....that the entire value of the world's credit system was underwritten [bold]without a sou of prudent reserve[/bold] nor judicious oversight from Greenspan or the SEC, or the CFTC! In fact, having colluded with ratings agencies that they own, as well as regulatory agencies which they controlled, the BANKS ARE OBVIOUSLY GUILTY OF CONTROL FRAUD!

All of this shit could not have occurred without the total abnegation of the BushCheney administration

The ideas of these AEI creeps Wallison and Pinto are not worthy of intelligent discussion at all, but for our pal at NYTimes, Joe Nocera. "Both sides do it," I guess, and Joe's work is notable for his elevation of these lies and distortions as well as for his abject failure to renounce and disprove these cretins.

Need we say more than "American Enterprise Institute" to obtain a full knowledge of their bias, their bullshit and their dazzling intellectual bankruptcy? I have not ever read a single word from their institute without thinking it was basically & fundamentally tripe and biased dis-, or mis-information.

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