Wednesday, January 23, 2008

Scale of global credit crisis is staggering

The total amounts of credit default swaps (a form of debt insurance) outstanding is at $45.5 trillion --about twice the value of the US stock market, and three times the value of the US GDP (($13 trillion). This could lead "to a generalized meltdown of the financial system of a severity and magnitude like we have never observed before."

read more | digg story

No comments:

11-5-2024

  LIVE FINAL RALLIES: KAMALA PHILLY... DONALD GRAND RAPIDS... NEW HAMPSHIRE SHOCK POLL: HARRIS +28... 3-3: Dixville Notch Splits... RECORD 7...