Re: What Created This Monster?

On Mar 22, 9:58 pm, "FrediFizzx" <fredifi...@[EMAIL PROTECTED]
> wrote:
> it really is a mere pitance and way overblown by the media in
> the total scheme of things.
> Their greed begets the greed of the media.
>
> Fred

There you go again, Fred: blaming the messenger!

FYI... $2.5 trillion is NOT a 'mere pittance.

Fred, admit it: You didn't even read the full text, did you? You just
regurgitated your wing-nut talking points, on cue, like a good little
Bush-bot, right?

check this out, and tell me again how it's 'way overblown'...

"Bear Stearns held credit default swap contracts carrying an
outstanding value of $2.5 trillion, analysts say."

"The rescue was absolutely all about counterparty risk. If Bear went
under, everyone's solvency was going to be thrown into question. There
could have been a systematic run on counterparties in general," said
Meredith Whitney, a bank analyst at Oppenheimer. "It was 100 percent
related to credit default swaps."