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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (425076)10/12/2008 6:55:09 PM
From: Road Walker  Read Replies (1) of 1576071
 
I think he's talking about central banks acting as a backup to their banks. Even though we don't know exactly what constitutes those derivatives, central banks have to be willing to provide some sort of guarantee.......it could be as little as $.30 on the dollar.......that becomes a standard to which everyone can refer when talking about these derivatives. At least I think that's what he means there.

I was talking to a friend in "the industry" today. She said they don't know what they are, or where they are. The CDS are totally a mystery. It's almost funny, a $62Trillion mystery, just like 7 years old.

The total default mortgages are a "pimple on our ass", no way they could pull down the world economy. It's all about the derivatives.
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