Here’s an interesting article from about 6 months ago. It talks about “Credit Swaps” or “Credit Default Swaps”, a new kind of traded security. This is a good explanation of what is happening today. I also find it interesting that if you google any of the terms currently in the news regarding the financial meltdown, you will find article after article from months and even years ago that describe in pretty good detail what we’re experiencing now and what we’re about to experience. Try it. Go to google and search for terms like “credit swaps”, “economic depression”, “banking crisis”, “federal reserve”, “inflation”, and so on and so forth. You’ll find that the events of the last few weeks and months are no surprise to anyone but our government!
See the article here:
http://www.time.com/time/business/article/0,8599,1723152,00.html
No comments yet.