[lbo-talk] Socialism by any other name?

[Grant Lee]

> 
> The insurance company that raised money by issuing such securities 
> would use the proceeds to buy securities linked to a lot of other 
> countries' GDPs. So it would end up with payouts linked to its own 
> country's GDP, but income linked to other countries' GDPs. Get it? 
> Provided all countries didn't go into recession at the same time, the 
> company would have shifted some of the risk of a local recession.
> 

I guess Shiller hasn't heard about 1929, or 1847, or....