verygreen

After Wall Street's Broken, Who Pays the Piper?

One thing I didn't get from this article is that WHO got those money by selling CDs ($60T= one year whole world GDP) & CDO ($600T= 10 times whole world GDP)? The institution AIG, Citi bank, Bank of America, J.P Morgan, who issued those great creative products got taxpayer's money from bailout one after another to survive. Seems someone carries those giant money going another planet to spend. Then it will take 10 years to get U,S, checkbook balanced with exporting and sharing this misery with whole world. If not, that should be a paper loss, and then the situation would be less serious. Did anyone have some answer? Thanks.
Susan