For what it's worth

[finnbow]

Originally Posted by merrylander

Thanks to the CMHC (Central Mortgage & Housing Corporation) no Canadian banks needed bailing from the derivative scam.

Just how do the people up there survive without the freedom to gamble on unproven financial instruments? Life isn't worth living without the unfettered opportunity to lose your nest egg to unregulated shysters. Damn socialists.

[Charles]

Originally Posted by finnbow

Just how do the people up there survive without the freedom to gamble on unproven financial instruments? Life isn't worth living without the unfettered opportunity to lose your nest egg to unregulated shysters. Damn socialists.

I've been saying for some time that derivatives are like side bets on a crap game. And the boys on the side are betting IOU's.

At least in a crap game if you can't cover your bets somebody is gonna slice you up with a razor instead of putting you in charge of the game.

Chas