Discussion in 'BlackHat Lounge' started by kips, Jan 17, 2009.
$2.5 trillion Not Bad
This is about the recycling of the Petro dollars.
Its basically a cycle. When oil prices rise, the Arabs get rich.
They have nowhere else to park their money other than the big investment banks and hedge funds knocking on their door.
This banks and HF then need to invest this HUGE some of money into something.. bulk of it goes into mortgage finance.
Desperate Banks and HF then invests ''other peoples money'' into any scheme which can generate more money. They care little about the risk, so, retail banks pressure ordinary guys into getting their mortgage refinanced, etc.
When the credit markets got hit with defaults-naturally, the Arabs cash gets screwed.
hahaha, sorry I don't know why this is making me laugh. Kinda makes me happy....
Meh, doesn't say how many people's that 2.5 Trillion is made up of. If it was 10 people that lost that much I would laugh and laugh all day!
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