thowze

Fannie & Freddie: Just the Tip of the Iceberg

He has a right to be. The CDS problem has been growing for years unregulated. The true concern when these institutions go under is how will the massive amounts in CDS contracts that they generally don't discuss be handled. The media does not focus on it because it would let the public know just how bad things truly are.

The Bank of International Settlement has the recent CDS estimate just for the banking industry at 683 trillion globally, and the global GDP for 2007 was not even 10% of that. This is a time bomb just waiting to explode.