Path: csiph.com!fu-berlin.de!uni-berlin.de!individual.net!not-for-mail From: rbowman Newsgroups: comp.os.linux.misc Subject: Re: Joy of this, Joy of that Date: 9 Dec 2024 22:23:30 GMT Lines: 21 Message-ID: References: <27adnXI82bRUU876nZ2dnZfqnPSdnZ2d@earthlink.com> <99e16cd0-fc18-0799-79be-460bbe75262c@example.net> <1AqdnVrHJMM8Ecv6nZ2dnZfqn_WdnZ2d@earthlink.com> Mime-Version: 1.0 Content-Type: text/plain; charset=UTF-8 Content-Transfer-Encoding: 8bit X-Trace: individual.net +J/5imdxz7dmPR3+G60T9wY6NhbMMTgsucznl7oYRbocUPkwa7 Cancel-Lock: sha1:8qrLRNYKD3Qo/I0nG+vzxntMfBs= sha256:f/Ld1+roQAx/U3I+8Zu/kDBM1i3Buqvm5cKWVjMl6Bw= User-Agent: Pan/0.149 (Bellevue; 4c157ba) Xref: csiph.com comp.os.linux.misc:62069 On Mon, 9 Dec 2024 15:58:55 +0000, The Natural Philosopher wrote: > "We have shit loads of bad debt that we cant offload" > "Well package it up with insurance against failure and sell it as A1 > guaranteed debt then" > "But what will happen if the insurance companies can't cover it" > "Oh that will be the government's problem, not ours" I remember an article in the WSJ about the great new idea of creating a tranche of mortgages likely to fail, peddle the derivatives, and wait for the failure and subsequent insurance payout. I'm not interested in the stock market or economics in general but I thought 'this isn't going to end well.' I thought the same about the 1999 'Financial Services Modernization Act' that removed the Glass-Steagal controls with the financiers promising they weren't going to do anything stupid this time. I'm not prescient nor do I claim any expertise in economics, foreign policy, and so forth but it's depressing how often my personal analysis proves to be correct versus the 'experts'.