Oh, the derivatives guy who now says billions in derivatives are based on bundled loan&mortgages and must unwind and will make more billions on the books be written off.
POOF!—that money no longer exists
I live in Phoenix in the fastest growing county in the US. Wouldn’t all these suffering investors be shocked to learn that we don’t even know a thing about their problems much less feel a money pinch?
All those people moving out of their McMansions are just moving back into the apartments they had before. They just had a fun time living in a big house for a time.