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**makemoneyonli** · 03-10-2012, 08:22 AM

I couldn't get to the article vacuum...

ISDA said that the current +100 Billion Euro loss of bondholders has triggered $3 Billion of CDS payments. That is utter bullshit! I would wager that the Swaps would warrant a payout of at least the nominal amount iow $135 Billion, probably way more the way the derivative market has developed in general. Even a trillion dollars is a real possibility. Most of these CDS's were issued not to the legitimate bond investors insuring their investments, but to casino bankers who were betting on a Greek default. Similar to a neighbor taking out a fire insurance 10 times the value of your house while stocking up on barrels of gas at the fence of your property. This will get fugly!

03-10-2012, 08:22 AM	#11
makemoneyonli Join Date Oct 2005 Posts 447 Senior Member	I couldn't get to the article vacuum... ISDA said that the current +100 Billion Euro loss of bondholders has triggered $3 Billion of CDS payments. That is utter bullshit! I would wager that the Swaps would warrant a payout of at least the nominal amount iow $135 Billion, probably way more the way the derivative market has developed in general. Even a trillion dollars is a real possibility. Most of these CDS's were issued not to the legitimate bond investors insuring their investments, but to casino bankers who were betting on a Greek default. Similar to a neighbor taking out a fire insurance 10 times the value of your house while stocking up on barrels of gas at the fence of your property. This will get fugly!
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