No way!
How is it possible ? We are currently in recession yet the official figures don't yet show it and _everyone_ is forecasting it to be lasting well into next year at least, if not longer.
What grounds do you base wall st on the mend ? A rally for 2 days in a row ? Wait until the next 1trillion dollar bailout where they just ramp up the printing press again.
A credit-default swap is a contract that offers insurance for lenders worried about a borrower's ability to repay loans. Banks have used credit-default swaps to cover the risk of default in mortgage and other debt securities. Many credit-default swaps collapsed in value along with the mortgage-backed securities they were meant to protect.
Fear of what would happen if the swaps fully unraveled prompted the government in September to lend $85 billion to insurer American International Group Inc.
we all know what happend after that...
Now that everything is peachy, it won't happen again right ?
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