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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Giordano Bruno who wrote (94561)5/25/2008 11:11:32 PM
From: Real Man  Read Replies (1) of 110194
 
Much less than that in actual systemic losses, but
nevertheless a large number. Nobody knew, and that's
what was scary. Bear had about 13T notional -g- There were
some estimates, something like 60 bln. in gap systemic losses,
just solely due to Bear's 2 Trillion notional CDS counterparty
failure. That gap would have widened further dramatically to
other derivatives. -g-

The problem is, bear would have been a trigger that would
onset the avalanche. Like CDOs, things would just keep
widening and players collapsing, then widening some more,
and so on. -g-
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