CDMs ANYONE?

BANZAI7--Federal Reserve Chairman Ben Bernanke says the central bank is looking into Goldman Sachs and other Wall Street firms' use of a sophisticated investment instrument to make bets that Greece will default on its debt, the "credit default mop."

Bernanke says the Fed is looking into companies' use of credit default mops, a form of insurance bet on bond defaults. Bernanke made the comments at the start of a Senate Banking Committee hearing on moping up the economy.

The panel's chairman, Sen. Christopher Dodge, Douche-Conn., says he is troubled that this practice could worsen Greece's debt crisis. He further noted that the mop could soon land in Washington DC.