Credit Default Swaps Data Outdated
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.
"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.
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