John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: robert b furman who wrote (8752)	1/23/2008 6:48:59 AM
From: John Pitera	Read Replies (4) of 33421

George Soros and Laurence Summers were just being interview on cnbc from Davos, Switzerland. Soros highlighted one of the points that I have continued to raise for the past 18 months. He pointed out that we have 45 Trillion dollars in credit defaults swaps outstanding and there are significant and currently unknow CounterParty Risks,. Some of these Credit Default Swaps are held by entities that are insolvent and/or will become insolvent. And the Markets and the Governmental Regulators do not know where the so called bodies are buried. Soros admonished the Central Bankers to go through the books of the market makers and provide oversight into the efficacy and solvancy issues that are lurking out there. I have talked about this numerous time and I belive that CounterParty Risk is the big shoe that has not dropped in this credit market turmoil of the past 2 or 3 quarters. John

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