With the collapse continuing, the expenses are mounting. The news from Yahoo is that another $40 billion has been expended in the bailout of AIG insurance company. This money is then disappearing in the black hole of the Cayman Islands centered, no tax paying derivative credit swap market. Other derivatives may be involved as well. The real question is when is the system finally going to be put into bankruptcy and this foolish bailout game ended? Derivates don't exist, and can be legally made to not exist anymore, to be illegal, and to go away. Of course, the real estate, the mortgages are going south as well at a fast speed.
Monday, November 10
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