Paulson's sketchy notes so far say that besides actual distressed loans, the Treasury may buy CDO's. "Cash CDO's" are directly collateralized by real assets, but 3rd party credit default swaps are just a kind of betting for "fatcats". Can you guarantee we won't become the "Casino of Last Resort" on the taxpayers' dime?

Tue, 07 Oct 2008 19:52:02 -0500

Third party CDS's are bets between two "counterparties" that some other party will or won't default on a debt. They have been described as similar to "insurance", but they are more like under-the-counter options. The holder of the contract does not have to have ANY connection to the debt described in the swap. read more »

Given the fact that in the Spring (& now Winter) Primaries and Caucuses is the ONLY time we get have a say in who we want for US President (the General election in November is to vote for the Electoral College, not the candidate), When do you think the American Voters will Finally get to Vote for a U.S President?

Lee Derr — Wed, 27 Aug 2008 12:26:35 -0500

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