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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (69142)9/17/2007 10:56:39 PM
From: RealMuLan  Respond to of 116555
 
LOL. I think you are right on that prediction<g>. Since at least Mainland Chinese banks are WYSIWYG (what you see is what you get), including bad debt. Those state banks are NOT allowed to buy derivatives (except the limited exposure for the US sub-prime). While JP Morgan Chase, Wells Fargo, and quite a few other US banks hold billions, if not trillions, of derivatives. When they unwind, the loss could be much bigger than their balance book showing.


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