levin70

David Merkel on Life Settlements

On the flip side there would have been no liquidity to the CDS market and what it said would never have been available to those savy investors in 2007/2008. The CDS's themselves were not the problem, the problem were the children at AIG who believed they were writing pure profit insurance policies that would never pay out. Houses never go down in value, right? AIG should have been let to go under, problem solved as the children would have been out on the street as a result of their not acting like the adults that they are.

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