What's really happening here? We have a large number of very rich people claiming that the system will no longer function unless the government underwrites the risks they have taken.
The parallels to the previous scandal of savings and loans in the late eighties and early nineties is interesting to me. There are many differences, clearly, but some things seem eerily similar. The difference here is that the debt is not already backed by the government as it was with the S&Ls. Who is really profiting from the money disappearing? Someone is.
