Replies to post #620227 on Zeev's Turnips Patch-No Politics (ZEEV)

[Bruce A Thompson]

The real con job was

The shorting of the ABX index destroying the mark to market value of perfectly good portfolios.

Combined with the CDS fiasco @ 30-1 coverage to underlying assets, there was nowhere for the financials to go but down. It was a masterpiece of manipulation on the part of the big banks in support of naked shorting.