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Denninger: On The Edge of The Abyss, S&P 500 of 210 Looms

1-30-09 • Market-Ticker.denninger.net

The "dirty secret" behind a lot of these "assets" is that they are literal zeros. A lot of the debt issued in the last few years was in fact fully synthetic - that is, it was not backed by an actual mortgage or other actual debt

Zano

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