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Well the SEC allowing banks to value all illiquid assets at anything they want like they did this weekend is a good start to making the market completely irrelevant. A 0 value is a completely unknown value the same way the $61 trillion in CDS contracts could make the $71 trillion in US assets - the $15 trillion in known debt add up to less than 0. I suppose it would be about correct give or take a few trillion.
Oct 13 00:28 am
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All Comments by Moon Kil Woong »Can the Market Go to Zero? [View article]