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Credit Default Swaps Data Outdated

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April 16, 2008 – Comments (3)

Females go Ekkkk!  I noticed Barry on Big Picture goes Urk, or something like that.

Ekkkkkk!!!! Ekkkkk!!!! Ekkkkk!!!

Naked Capitalism is report on data that says that $45 trillion figure for credit default swaps is out dated.  A more up to date figure is $62 trillion.  The piece suggests these things have more than doubled in a year.

Ekkkkkkkkkkkkkkkkk!!!!

"Indeed, if you think of BSC not as a broker dealer, but instead as a clearing customer of JPM, then the logic of the acquisition makes perfect sense. JPM could not let BSC go into Chapter 11 because doing so might have started a chain reaction among the OTC derivative counterparties of both firms."

JPM is essentially an uncapitalized, $76 trillion OTC derivatives exchange with a $1.3 trillion asset bank appendage.

Read the link... 

3 Comments – Post Your Own

#1) On April 16, 2008 at 9:52 AM, dwot (97.03) wrote:

Dang, NC is must read today...

On another post it is suggested banks are manipulating the libor rate

Ekkked out... 

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#2) On April 16, 2008 at 10:34 PM, abitare (58.10) wrote:

dwot,

You are posting faster then I can read! 

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#3) On April 17, 2008 at 1:33 AM, dwot (97.03) wrote:

I know, I just read and think, post on that, then I read something else...

I keep saying I'd like a reading list, something where you can put a link and a description. 

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