...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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...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.

Authors Bio:
I have consciously decided to join the majority of Americans who have chosen not to vote. I refuse to participate in the lie that voting in the U.S. is participation in a democratic process. While the credibility of the U.S. political system is almost non-existent it still manages to survive - one non-violent way it to put it out of its misery is for all liberation loving folks to join in abandoning the system completely. When only the goose-steppers show up at the polls we will have arrived at a point where a new political system is possible.