A $45.5 trillion dollar unregulated market... something just isn't right here. I am really starting to believe that this financial mess isn't even understood by Paulson, Bernanke, and the rest of them. They are just holding on for dear life. There is no way that this whole credit default swap story doesn't unwind into a giant mess. The only issue is when:
"No one knows how troubled the credit swaps market is, because, like the now-distressed market for subprime mortgage securities, it is unregulated. But because swaps have proliferated so rapidly, experts say that a hiccup in this market could set off a chain reaction of losses at financial institutions, making it even harder for borrowers to get loans that grease economic activity."
0 Comments:
Post a Comment