Who saw the segment regarding subprime mortgages, the 'bailout' legislation and 'credit default swaps?'
I did nice summary, I knew about 75% already. Classic, the guy from swap industry defending them and trying to move blame to the mortgage backed securities. They are both to blame.
This American Life w/Ira Glass (podcast will be available for free online tomorrow). http://www.thisamericanlife.org/ Look for the podcast of the show that originally aired Saturday (10-04-08). It does a fantastic job of explaining the massive damage that credit default swaps did, and will continue to do for years to come. It was extremely entertaining and informative, and I highly recommend it to anyone who seeks more information about CDS's.
I saw the report and thought it was good. I wish they would have spent the whole hour on cds. I would also like to see the ceo's answer some questions which of course will never happen as the greed and lack of accountability are probably embarrassing to talk about (I can only imagine).
saw it but don't think enough was done to examine how much of that market was mortgage related and what the rest of the cds are covering, mind you, maybe no one knows
I heard the this american life brodcast. Until the criminals that created this monster are called to justice, all monies confiscated, and heads put in the noose, nothing good will have come of this. In fact, a letter in Barrons suggests that all swaps be declared null and void. Not a bad idea That these gambles amount to over 10X the underlying bonds, is an obscenity beyond words. That the bankers allowed this is proof that they are incompetent scum.