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Old 16th January 2009, 07:06 PM
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Perhaps the Ultimate Scam?

http://seekingalpha.com/article/1150...ticle_sb_picks
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Old 17th January 2009, 08:59 PM
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Re: Perhaps the Ultimate Scam?

RD,
Thanks for the link! I couldn't agree more on that "Ultimate Scam" comment... LMAO.

I know you folks on the other side of the pond aren't surprised about the last paragraph in that link... that's just the way we do things over here... expect it to get messy.




Quote:
My point is this. Buying insurance on 5-year U.S. government debt is probably the stupidest thing anybody could possibly do because the company issuing the policy wouldn’t survive the financial catastrophe that the world would be in. And even if it did, getting paid is probably a moot point, as money would likely be worthless at that point anyway.

If you’re really worried about the U.S. government defaulting on its debt, keep that money you’re spending on the CDS contracts and instead invest in guns, ammo, and farmland with a good water supply.
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Old 18th January 2009, 12:18 PM
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Re: Perhaps the Ultimate Scam?

Good chuckle...insurance that most likely could never be used.
This boarders on the kind of "creativity" with mortgages and insurance got us into this mess in the first place. :p
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Old 18th January 2009, 07:47 PM
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Re: Perhaps the Ultimate Scam?

Quote:
Originally Posted by bwhhisc View Post
Good chuckle...insurance that most likely could never be used.
This boarders on the kind of "creativity" with mortgages and insurance got us into this mess in the first place. :p
As a lifer in math, all I can say is "try Vegas" for better odds.
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Old 19th January 2009, 02:54 AM
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Re: Perhaps the Ultimate Scam?

Quote:
Originally Posted by npcomplete View Post
As a lifer in math, all I can say is "try Vegas" for better odds.
Drewbert's classic "The Global Credit Crisis in 55 Easy to Read Slides" LOL
Worth the trip...may take a minute to load, but genuinly fun. :p

http://docs.google.com/TeamPresent?d...&skipauth=true
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