cbsnews.com - 10/7/2008
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(CBS) On Friday Congress finally passed - and President Bush signed into law - a financial rescue package in which the taxpayers will buy up Wall Street's bad investments. The numbers are staggering, but they don't begin to explain the greed and incompetence that created this mess. It began with ...
gothamist.com - 10/9/2008
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gothamist.com —
It has not been a good time on
Wall Street , and now it's gotten even lower....
Reader Adalis writes, " Someone spray painted the Wall St. Bulls balls blue. It was gone in a few hours, but I snapped some quick pics."
(more)
Wall Street Really Needs Relief
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Unrelated Underrated News Bits: CCP for CDS and Mortgage Modification
Conglomerate —
... I get a lot of questions about future regulation of the $60+ trillion CDS world in the wake of the crisis. (Here is Sunday's 60 Minutes backgrounder featuring Frank Partnoy.) Bear, AIG and Lehman were major shocks that reopened some long-closed debates on overseeing the OTC derivatives market, including the ten-year-old truce on regulating swaps. Two options come up with some frequency: Central Counterparty Clearing and chasing more or most CDS contracts onto regulated exchanges. Monday's ...
60 Minutes on the Financial Storm
The Big Picture —
... - a financial rescue package in which the taxpayers will buy up Wall Street's bad investments.
The numbers are staggering, but they don't begin to explain the greed and incompetence that created this mess.
It began with a terrible bet that was magnified by reckless borrowing, complex securities, and a vast, unregulated shadow market worth nearly $60 trillion that hid the risks until it was too late to do anything about them.
And as correspondent Steve Kroft reports, it's far from being over.
Watch ...
60 Minutes: The Bet that Blew Up Wall Street
Fund My Mutual Fund —
... They are called credit derivatives or credit default swaps, and 60 Minutes did a story on the multi-trillion dollar market three weeks ago. But there's a lot more to tell. ...
GREEDY BASTARDS MAKE ME SICK!!!!
Art of trading.net —
thanks to Market Monk for the link to this fascinating video. VIDEO
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