stretcho44

Congress Offers Big Three Automakers Help, Makes Demands in Exchange

It will be interesting to see who sold the Credit Default Swaps for GM. The data on dtcc.com/products/deri... shows that there is a $3.3/b net position on GM defaults documented through DTCC. DTCC thinks that they have 70% of the market for CDS so $3.3b losses for those writing the CDS will be close.