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To: DebtBomb who wrote (163939)11/12/2008 8:40:41 PM
From: PerspectiveRespond to of 306849
 
Derivatives are zero-sum, except inasmuch as

1) they can be simultaneously carried at different valuations on different balance sheets (ie level III can be geared to favor the holder's interests)

2) they will bankrupt many parties, and some could be key players in the shadow banking credit creation sytem

`BC



To: DebtBomb who wrote (163939)11/12/2008 8:40:42 PM
From: PerspectiveRead Replies (1) | Respond to of 306849
 
Derivatives are zero-sum, except inasmuch as

1) they can be simultaneously carried at different valuations on different balance sheets (ie level III can be geared to favor the holder's interests)

2) they will bankrupt many parties, and some could be key players in the shadow banking credit creation sytem

`BC