Comments on: Derivatives Estimated to be More than $700 Trillion

By: Economic Disaster Will Bring Down USA: The Beast Is Coming « Men of Issachar

Tue, 25 Nov 2008 00:29:57 +0000

[...] than the total currencies of all the governments in the entire world. As one writer puts it, “In other words, every dollar of insurance on bonds issued by some deadbeat governments and corporati...“ We’ve got a time bomb waiting to explode. And it is becoming increasingly unlikely that [...]

By: Obama’s “New New Deal” Will Redistribute Wealth Of Shrinking Economy | American Sentinel

Sat, 15 Nov 2008 06:08:30 +0000

[...] the total currencies of all the governments in the entire world. As one writer puts it, “In other words, every dollar of insurance on bonds issued by some deadbeat governments and corporati...“ We’ve got a time bomb waiting to explode. And we put a lot of the people who [...]

By: Obama’s “New New Deal” Will Redistribute Wealth Of Shrinking Economy « Start Thinking Right

Sat, 15 Nov 2008 05:54:22 +0000

By: jelb

jelb — Thu, 01 May 2008 12:51:27 +0000

Sorry, that should have been Murphy's Law not Mr. Drucker quoted above.

By: jelb

jelb — Thu, 01 May 2008 05:15:47 +0000

With regard to a derivatives-inspired financial debacle please reference Mr. Druker's prophetic words of wisdom -

IF ANYTHING CAN GO WRONG, IT WILL !!

700 trillion dollars of derivatives is like having a very large pile of hydrogen bombs. If one goes off do they all go off?

What to do? Eliminate this potentially lethal game completely from the face of the earth. No 'derivatives' for any reason.

Pray it's not too late.

By: Coffee Addict

Coffee Addict — Wed, 23 Apr 2008 04:56:32 +0000

Is the situation as catastrophic as Mogambo intimates? My initial guess was odds even.

In the Australian environment, it may be worth noting that the "borrowers" of the so called "domestic" synthetic CDOs include all the great names in the US sub-prime collapse. At least the US taxpayer is funding the Australian bailout. Take a look at legal funding firms IMF (Australia) Limited web page to see for yourself http://www.imf.com.au

Here’s a question of the other posters and hosts (Dan in particular). Why in PREVIOUS years did entities such as Lehman, Citigroup, Bear Sterns, Countrywide, Freddie Mac, Fannie Mae, Goldman Sachs, Credit Suisse, Merrill Lynch, Washington Mutual, Pulte Homes and many more including the bond insurers happen to get their debt default risk packaged into Australian SIVs? I’ll need to think about it for a while before I say any more.

The odds now seem to be tipping in Mogambo's direction.