Derivative investments are a 50/50 bet on a random binary condition. Bought with credit, they are for all intents and purposes worthless, especially since there is no legal requirement to pay off a winning bet. Armed with knowledge that the federal government guaranteed all risky behavior in this market, even stupid bets become good as it is impossible to lose money. Several low profile bankers made millions in this market since the mid 90s and got out before any crash, knowing it would come. Therefore I have started a new market with similar conditions. It sells derivatives for the presidential election. I bet on McCain, if he wins I collect all the money from the people who bought into my market. If Obama wins, it doesn’t matter because he will socialize all losses on you idiots who dont invest in my market. Get in while its HOT!!
Leave a Reply
You must be logged in to post a comment.