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Strategies & Market Trends : Value Investing

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To: Sergio H who wrote (47207)	3/28/2012 10:27:00 PM
From: Difco	1 Recommendation Read Replies (2) of 78744

Sergio- thanks for the article. It was an entertaining read. I found some numbers really fascinating- Taibbi suggests that the FDIC will insure $55 trillion in "irresponsible gambles" of BofA. Did anybody get what those are made of? If he is suggesting that those are derivatives, does this mean that BofA is liable for 1/10th of the entire derivatives market? Later he talks about "$350 trillion worth of financial products globally reference LIBOR" - I don't understand what constitutes that number? By itself this number would be greater than the entire interest rate swap market. I understand his point, but I feel that some of the facts get watered down by the polarizing language.

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