The real kicker will be: SOMEBODY - sold a lot
Post# of 123706
SOMEBODY - sold a lot of insurance and derivatives on those dollar bonds. When they are defaulted on (which is happening) those schmucks who sold insurance at 10 cents on a hundred dollars, knowing they would never have to pay out, NOW HAVE TO PAY OUT!
These were sold by the big boys on wall street - you know who - and this is going cause a lot of underwear issues in short order.
But - Biden will bail them out - all except for one that they will let fail spectacularly.
By the way - wasnt it intresting that Lehman Brothers, gave less money to the dimocraps than any other insurance / investment bank?