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Posts tagged "AIG"

Why is Illinois Using Credit Default Swaps?

You remember credit default swaps, right, the financial “instrument” that pricked the housing and economic bubbles? Illinois is “enjoying” the same kind of debt bubble that led the nation into its current financial mess. I call it a debt bubble because if all the borrowing that the state does to keep it afloat ever becomes... Read more »
By Dennis Byrne,
September 3, 2010 at 2:00 pm
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Outrageous public pensions

What would you think about the government cutting the paychecks of executives running those bailed-out banks to about, or even less than, what teachers earn? Make that what retired teachers receive in pensions. Most Americans probably would say, “Wow, what a great idea. Teachers deserve a lot more money. And those bozo executives should be... Read more »
By Dennis Byrne,
October 27, 2009 at 10:30 am
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