"45 Trillion."..E.J Dionne..that is what it is all about...courtesy .. babylon sister..

[Stuart G]

quoted from the thread started by babylonsister:

Dionne says...........

"Scarier than the bad mortgages are those unregulated credit default swaps that the financier George Soros has been warning about. There are $45 trillion of those esoteric instruments sloshing around the global financial system. They were invented as a hedge against defaults on debts, but even the financial smart guys don't fully understand their impact or how to price their real value."

This is the deal...........now you know why some are really scared.
The world markets could tank on this one

babylonsister's thread:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x7193291


link given in Dionne/babylonsister thread to entire column:

http://www.realclearpolitics.com/articles/2008/09/mccain_plays_politics_with_cri.html

[mmonk]

1. There is no way to determine their value price wise.

But our problem now is solving the credit crunch as a result. Doing nothing is also a risk.