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Group(s): Capitalism a threat to life on Earth
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| Permalink View Article Stats The Sub Prime Meltdown is but the Tip of the Iceberg Quicklink submitted by Cameron James (Add your own quicklinks easily with the OpEdNews Quick Link Browser bookmark) |
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| ...a far larger problem is now coming into focus. Sub-prime or high-risk Collateralized Mortgage Obligations, CMOs as they are called, are only the tip of a colossal iceberg of dodgy credits which are beginning to go sour. The next crisis is already beginning in the $62 TRILLION market for Credit Default Swaps. You never heard of them? It's time to take a look, then. |
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