Dig to the bottom of our current fiscal nightmare and you’ll discover an oddball type of derivative that Warren Buffet famously termed, “financial weapons of mass destruction.” Also known as Credit Default Swaps (CDS). Essentially, it’s a bet that a bad investment will fail. A strange type of insurance to be sure, where the purchaser of said CDS isn’t required to have anything to do with what’s being insured. Oh, and it’s a $55 trillion market. Er, was. And because of Gordon Gekko-huffing-PCP style greed, all of our 401ks have been halved. If not worse. Maybe the Adderall-addicted pukes that tanked our economy were trying to accumulate enough cash to buy a Lamborghini Gallardo LP560-4? While I can’t forgive ‘em, I do understand.
As you may or may not know, the LP560-4 has both an exterior and an interior. Got it? Moving on.
thetruthaboutcars
