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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?


To: Paxb2u who wrote (85067)1/15/2009 10:08:41 PM
From: Real Man  Respond to of 94695
 
They are all mutual contracts, bank A owes bank B, bank B
owes bank C, and bank C owes bank A, etc. If one fails,
their netting blows up, so they don't trust each other.
The bulk of 1 quadrillion is that way anyhow.
If you consolidate them, derivatives cancel -g-