From: "Rod Speed" 
Newsgroups: misc.invest.stocks misc.consumers.frugal-living misc.invest.real-estate
Subject: Re: Where did the 400 billion USD in subprime mortgage losses go
Date: Wed, 21 Nov 2007 05:48:09 +1100
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AllEmailDeletedImmediately  wrote:
> "Wilson"  wrote in message
> news:HYE0j.461$Vq.404@nlpi061.nbdc.sbc.com...
>> I keep reading about the 400 billion us dollars in subprime losses
>> to date, e.g, see this bloomberg article http://tinyurl.com/2vjgq7
>>
>> Where there is a 400 billion dollar loss there is a 400 billion
>> dollar gain.
>>
>> I don't understand WHO gained from this 400 billion dollars?
>>
>> Who wins here? How?
>> I'm cash rich - can I benefit by taking some action?
>>
>
> money is created out of thin air by the fed (which is a private entity). the banks were lending non-existent dollars 
> since they only have to have about 1 dollar on hand for every 10 they lend, or something like that.

Nothing like that, actually.

> it's called fractional reserve banking.

Its called mindless pig ignorant silly stuff, actually.