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  • cpa38 cpa38 Oct 17, 2008 7:53 PM Flag

    John Allison is an idiot

    And look where

    Key Lay sat
    and Jeffrey Skilling
    and Bernard Ebbers
    and Dick Fuld
    and Martin Sullivan
    et al, et al

    So, John's a CEO, BFD ... more than a few have proven to be idiots and thieves.

    The real question is one for you spoor5t ... do you even have a clue what Credit Default Swaps are all about? Do you understand that these instruments were devised to spread risk, but wound up ensuring systemic risk that greatly increased the possibility of a cascading bankruptcy of our worldwide financial system?

    John doesn't understand the dangers of CDS ... or he wouldn't have wasted any time what-so-ever talking to his audience today about Fannie Mae and Freddie Mac. Fannie and Freddie are problems that have been solved. CDS are now the REAL DANGER to our world economy.

    This Tuesday, over $400 Billion in payments on Lehman CDS come due. If we wake up to news of multiple hedge funds, insurance companies, or major banks filing for bankruptcy ... you can kiss any money you have invested goodbye, because our entire world markets are going to crash, brought to you by the CDS market.

    And John will still be talking about Freddie and Fannie. Because he's a clueless Republican idiot.

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    • How about you explain to us how CDS's work. I will be glad to correct all your mistakes.

      This should be fun folks. I'm betting this poster is clueless as to how CDSs work. Once he posts and makes a fool of himself I will be happy to post a link to an explanation I posted on another board.

      too funny

    • you are all so confused, the president is not responsible for the credit crisis, it is the greedy ceos of the banking industry and also the whole government not just republicans or democrats but all of them together none of them will work with the other to solve problems we need to do away with both parties and judge by person not party.

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