Woog, you cannot compare everything to the CDS mess, we are talking 2 different animals but you keep going back trying to link everything to sub prime lending and CDS.
Seems you have combined these issues in your own mind and you're having trouble keeping them seperate issues.
The only qualification for lending to these companies
is liquidity/potential liquidity for the stock. It's hard not to make money on the immediate sale of shares at 50-70% discount and don't forget, NIR also charges interest the principal balance.
Payday lender== I'll charge you $50 for a 2 week $250 loan so that you can get drunk tonight. Just sign over next week's paycheck.
Kind of what goes on here-- the only risk for that million + percent annualized interest is that the poor drunk makes it into work for the next 5 days. ;-)
Just cause ya sell dogfood doesn't mean ya created dogs.
There's two sides ta every deal. The problem is not the systems that allows Hedge Funds terms or the how the companies pay debt. It's the people involved.
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