Greedy Bastards Favorite Financial Innovation: 'The Swaps Market'

good stuff..........from dylan ratigan.....

"Why do Greedy Bastards love swaps?  Dylan explains it this way.  “The genius of the Greedy Bastards maneuvering in the swaps market is the following:  After collecting the revenue for all the insurance that you’re selling and all the credit and debt of the world—by the way, the more debt there is, the more insurance you can sell—when the insurance claims come from default on that credit, you don’t have to pay a penny because you, my friend, are too big to fail,” says Dylan.  “This is a market that has been created to basically protect the profitability of these banks that could be put on exchange but the barrier to doing it is the threat to their profits and the ability to do that is from money and politics”...........READ MORE

part 2 .........HERE