wall st crisis on the mend, page-4

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 ?