Economic Recovery?

Economic recovery? Humbug! So long as there are derivatives which include the credit default swaps so prominent in the fall of AIG, collateralized debt obligations, structured investment vehicles, asset-backed securities, mortgage backed securities, auction rate securities, and a myriad of other toxic variations a black hole exists which will suck in any material prosperity. These instruments are paper of paper of paper of paper. They once were illegal. Ban them!

Read Tarpley on freezing derivatives: