Non-Satirical Onion: Financial Sector Thinks It's About Ready To Ruin the World Again

[snot]

4. Ditto what byeya said. WE NEVER STOPPED the speculation in credit derivatives;

that's the main way wealth was sucked out of us last time (NOT the bad mortgages -- the focus on those was largely diversionary); and speculation in such derivatives by the Too-Big-to-Fail banks has continued unabated.

Anyone who still doesn't clearly understand how bad mortgages probably accounted for only 5% of the losses in 2008 meltdown and bailout, while derivatives accounted for 95%, needs to figure it out NOW.

One starting point at http://c-cyte.blogspot.com/2009/05/credit-derivatives-for-dummies.html

More at http://c-cyte.blogspot.com/search?q=derivatives