FormerXBC Inc XEBEQ

The big Difference

[filoux004]

In 2008 the financial collapse was bad ,Really bad. But the problem was at the top of the pyramid...basically the 10 largest global Banks. They had issued internally so much Derivatives ie credit default swaps, even synthetic ones (ie leveraged to the moon) . These derivatives were insurance policies for any kind of defaults: mortgage backed securities, country debt defaults (ie Greece) etc. The problem was Goldman had no idea how big the book of Morgan was and Morgan had no idea how big the UBS, you get the drift. They would soon find out when the Domino's started to fall. But they had their saviour, his name was Hank Paulson ex Goldman man who was now the treasury secretary who with the stroke of the magic printing press of the Fed issued 2T to relliquify the system and save the day. Of course their would be sacrificial lambs the biggest being Lehman Brothers. Things would stabilize and the Kool aid party was back on and the market would recapture it's all time high in less than 5 years. Part two next post