Thread: Recession
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  #8  
Old 10-30-2009, 12:11 PM
erm
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Good points, Luke. Me, I didn't get greedy. I paid off my house and kept my money in a conservative portfolio which still took a hit but it didn't sink.

Shades of 1929...anyone can speculate but those derivatives were a pure house of cards...when confidence in them and the institutions wavered, and they were called in, the value dropped like a lead balloon. And to some extent, they did have value...book value at the institution that held them. Problem is, there was no real asset behind them.
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