Contributing Editor SUSANNE TRIMBATH on Ea O Ka Aina regarding Black Friday

“A conservative estimate is that $9 worth of CDS “insurance” has been sold for every $1 in mortgage bond. Therefore, someone stands to gain $9 if the homeowner defaults, but only $1 if they pay. The economic incentives favor foreclosure, not mortgage work-outs or Main Street bailouts.”

Susanne on Ea O Ka Aina