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Old 09-29-2008, 08:16 PM
NotThe1 NotThe1 is offline
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Default $700 Billion Bailout Could Balloon to $5 Trillion


“So now they try to solve the problem by having this credit bubble actually extended and I think the $700 billion will be like a drop in the bucket because the total credit market in the U.S. is something close to $60 trillion, then you have the CDS market – credit default swap – of around $62 trillion. Then you have the whole derivatives worldwide worth about a notional $1,300 trillion. So the $700 billion is really nothing and the Treasury is just giving out this figure when actually the end figure may be $5 trillion.”
$700 Billion Bailout Could Balloon to $5 Trillion | War On You

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