A skeptical leftist's, or post-capitalist's, or eco-socialist's blog, including skepticism about leftism (and related things under other labels), but even more about other issues of politics. Free of duopoly and minor party ties. Also, a skeptical look at Gnu Atheism, religion, social sciences, more.
Note: Labels can help describe people but should never be used to pin them to an anthill.
As seen at Washington Babylon and other fine establishments
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July 27, 2007
CDOs and the Great Depression
Collateralized debt obligations based in fair part on subprime mortgages and in fair part on highly leveraged debt of various types strike me as being the modern equivalent of stocks being sold on just 10 percent margin in early 1929.
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Your comments are appreciated, as is at least a modicum of politeness.
Comments are moderated, so yours may not appear immediately.
Due to various forms of spamming, comments with professional websites, not your personal website or blog, may be rejected.