meltdown What caused the meltdown? How about CDS deals? Credit default swap deals: $55 trillion market.

While some Republicans have been desperately trying recently to blame Wall Street for the current collapse.On the Community Reinvestment Act, Clinton and Obama in particular (:-), There seems to be other ideas about what might be the main factor.Newsweek has just published an article on credit default swap transactions.
The CDS market is a $55 trillion market that is clearly completely unregulated!Although this seems to change soon.Here's a section of the article, along with its link: Monster who ate Wall Street's "credit default swap--Bad loan insurance--From a smart bet to a killer