The Epic American Credit and Bond Bubble Laboratory Message Board

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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Boca_PETE who wrote (101518)	2/20/2009 10:23:57 PM
From: Skeeter Bug	5 Recommendations Read Replies (1) of 110194

>>If the core cause of the current credit collapse is falling real estate values<< believe it or not, that's small potatoes compared to the real issue here. look at these numbers - and keep in mind that the value of all outstanding mortgages in the USA is about $11 trillion... ------------------- BAC has as much as $38.2 trillion in derivatives exposure and $3.4 trillion in CDS C has as much as $40.0 trillion on derivatives exposure and $2.5 trillion in CDS JPM has as much as $92.0 trillion in derivatives exposure and $9.5 trillion in CDS ------------------- would you lend money you really needed to an insolvent friend? the banks won't, either. the worse the economy gets, the worse the housing markets get, the more those "exposures" turn into liabilities... unfortunately, those "exposures" are unfunded. doh!

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