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Politics : View from the Center and Left

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To: Dale Baker who wrote (90877)	10/20/2008 2:50:43 PM
From: Steve Lokness	Read Replies (1) of 541138

for an orderly deleveraging of risk in the US system, without too much more major damage. The big blowups (AIG, Lehman, Bear Stearns) are mostly behind us, I think. I have read though that there is something like 70 trillion of derivatives out there. How long will it take to "deleverage" that? Seems to me a few hundred billion isn't going to help. Icelands problem was that each persons share of the obligation wa so huge that there just wasn't a way out? I'm sure not arguing here - only wondering if we can print our way out? steve

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