Northern Colorado Gazette

Posts Tagged ‘CDS’

Jul 28, 2011

(This is the 3rd in a series of articles designed to shed some light on why the economic recession has defied expert projections of a recovery and continues on its path to collapse.)

3rd in a series by Mike McCune It is amusing to listen to the dire saber rattlings coming from Moody’s and Standard and Poor’s about a threatened downgrade of the U.S. dollar by those two rating agencies. They can threaten until the cows come home and it can’t possibly compare to the what [...]

Share on Facebook

Tags: CDS, China, Congress, debt, driver, GDP, government, Greece, insurance, interest, Japan, Norway, part, path, pay, PIIGS, rate, support, Washington

Jul 26, 2011

This is the second part of a series exploring why the shaky global economy continues to defy experts and remains on the path to collapse. Today’s subject centers around how the European Union was snookered into accepting debt-ridden Greece.

by Mike McCune The U.S. recession was supposedly triggered by the Lehman Brothers default according to our government experts. Lehman had overextended itself with worthless paper and then, to stave off regulators, hid its worthless paper assets through derivatives and credit default swaps (CDS). The real reason for the meltdown remains government’s meddling [...]

Share on Facebook

Tags: American, CDS, credit, debt, ECB, EU, European Union, GDP, goldman sachs, government, Greece, Italy, paper, part, path, PIIGS, rate, second, unemployment, unemployment rate