"Do you see Senators demanding investigations..."

[slipslidingaway]

Congress needs to read some investment sites and blogs if they really did not know what was coming.

http://www.contraryinvestor.com/2008archives/momar08.htm

"...What is obviously apparent, we believe very meaningful, and perhaps little understood in the greater investment community, is the growth in magnitude over the 2004 to present period in the CDS market. From about $1 trillion in notional value outstanding at year-end 2003, we're looking at just shy of $14 trillion in notional exposure as of September 2007 for the US banking system singularly. A near fourteen-fold increase in three and one half years. We ask you, do you see this fact being discussed or at least being mentioned on the "front page", if you will? Do you even see this mentioned in discussions or articles regarding what led up to the current mortgage credit debacle? Do you see Senators and other assorted politicians grandstanding in their demands for investigations about how this could have come to pass? We need to at least think through potential investment consequences if indeed credit default swaps become the next credit market shoe to hit the floor in some manner. Why? Because at the periphery it’s already starting to happen.

Very quickly, who are the major players among the US banking system elite? The usual suspects, who else? Here's how it shakes out at present..."

[aint_no_life_nowhere]

1. The Congress asked their banking and investment lobbyists if they need to read those blogs

to receive campaign contributions.

If they didn't listen to an honors graduate from Stanford with 20 years of experience as a derivatives lawyer, why would they read a blog?

[Angry Dragon]

2. Who says they read anything

They just ask how may I serve you person with all the dollars??

[slipslidingaway]

3. True, but at least we should be aware when they say...

'if we only had more time to look at alternatives' we would, but right now we have to give them the money.