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Bernanke is talking about buying assets & mortgage backed securities

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gopbuster Donating Member (715 posts) Send PM | Profile | Ignore Wed Sep-24-08 10:38 AM
Original message
Bernanke is talking about buying assets & mortgage backed securities
I hope CDS's aren't involved in this, how are they or "other complex securities" even assets?

I can see buying foreclosures and the first layer of MBs but none of the other derivatives should be included in this bailout. Correct?
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PA Democrat Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-24-08 10:40 AM
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1. If that's the case, I have a pile of losing lottery tickets he should buy as well!
:mad:
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gopbuster Donating Member (715 posts) Send PM | Profile | Ignore Wed Sep-24-08 10:45 AM
Response to Reply #1
2. Its the toxic "other complex securities" that worry me n/t
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gopbuster Donating Member (715 posts) Send PM | Profile | Ignore Wed Sep-24-08 10:56 AM
Response to Reply #1
3. I hope Dems cover this and I have a feeling this is why Paulson
Edited on Wed Sep-24-08 10:56 AM by gopbuster
wanted no oversight in his original plan. Funds should not be misallocated to bailing out those types of contracts(derivatives)
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PA Democrat Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Sep-24-08 11:05 AM
Response to Reply #3
4. Well, considering it was credit default swaps that triggered the
Bear Stearns bailout and the AIG bailout you can be assured that's exactly what he had in mind.
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