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Economy

lastlib

(28,522 posts)

2. Don't underestimate the danger of credit default swaps.

Reply to bucolic_frolic (Reply #1)

Sat Apr 18, 2026, 02:31 PM

Apr 18

They were at the root of the 2008 financial crisis. And that bastard Sen. Phil Gramm (R-Texas/Hell), at the behest of his banker wife, KILLED the registration/regulation of these instruments in the Dodd-Frank law. So they are as dangerous now as they were then.

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Highlight:

The Financial Product That Blew Up the Global Economy Is Back [View all] LiberalArkie Apr 18 OP

Liquidity, default credit swaps, social programs, deficits are not the problem. bucolic_frolic Apr 18 #1

Don't underestimate the danger of credit default swaps. lastlib Apr 18 #2