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Friday, August 17, 2007 12:00 AM

Panic on Wall Street

You've heard about the home-loan bust, but do you know your derivatives from your tranches? Read Salon's easy guide to understanding the current market freakout.
By Andrew Leonard

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  • Friday, August 17, 2007 09:16 AM

    Thanks for the article

    As for the betting argument, I agree with bladdy kirsh who pointed out that there is investment in the traditional sense and what most trades in any given day have become -- gambling. Yes, all you hedge fund players, you are gamblers just like Vegas junkies.

    What this article did not do was acknowledge the role that hedge funds and rapid turnovers have in the panic. I don't have time to go into it here, but another piece by Leonard on how these factors expand and burst bubbles.

    —Anonymous

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