Detailed text transcripts for TV channel - CNN - 20100421:16:07:00
Whats called a shadow market. the u.s., its usually done through one of the big five banks. the problem with keeping it private is a company like aig was taking tons of bets on whether other people would be able to pay their mortgages. when the housing market crashed and aig was supposed to pay up it didnt have enough money to comp the bets. hello government bailout. because it was private no one had any idea that aig was gambling so much. well, now, congress wants most of these derivatives trad...
Shadow Market Big Five Banks Housing Market Government Bailout Shutdown Costs Airlines Air Travelers
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