Demand Jail Time For All Involved!

TheIndependent · by **TheIndependent** on 09/19/08, 2:46 pm

[size=22]Call your senator and demand justice!
[size=22]http://www.senate.gov/general/contact_information/senators_cfm.cfm
The Real Reason for the Global Financial Crisis...the Story No One's Talking About

[Part I of a three-part series looking at how so-called "credit default swap" derivatives could ignite a worldwide capital markets meltdown.]
By Shah Gilani
Contributing Editor
Are you shell-shocked? Are you wondering what's really going on in the market? The truth is probably more frightening than even your worst fears. And yet, you won't hear about it anywhere else because "they" can't tell you. "They" are the U.S. Federal Reserve and the U.S. Treasury Department, and they can't tell you what's really going on because there's nothing they can do about it, except what they've been trying to do - add liquidity.
At the exchange rate yesterday (Wednesday), 35 trillion British Pounds was equivalent to U.S. $62 trillion (hence, the 35 trillion Pound gorilla). According to the International Swaps and Derivatives Association, $62 trillion is the notional value of credit default swaps (CDS) out there, somewhere, in the market.
This isn't the first time Money Morning has warned readers about the dangers of credit default swaps. And it won't be the last.

Demand Jail Time For All Involved!

Demand Jail Time For All Involved!

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