Cent percent true! Almost all misery of the markets can be traced to the financial engineering being done by so called experts creating one exotic financial product after another with intention to be smarter than market forces, quietly unleashing power atomic bombs without any control to pull back and an indeterminate time for explosion. It is not a question if but when. We are witnessing only the tip of this iceberg so far! It is ultimately simple, all human misery can be traced to greed and lust and this is only a variation...
RE:True!
by anil b on Mar 15, 2008 03:53 AM Permalink
yes i agree ,
the subprime crisis is basically that , while the value of the underlying assets is very less even at its orginbals price , the amount theis value has been securitised is many times that and all this by banks and hedge funds with others money . thats is why we are seeing so much pain .
