Submitted by ssbaker305@yahoo.com, Sep 9, 2008 11:58
The completely unregulated Derivatives market beats them all in the numbers contest. According to the U.S. Office of the Comptroller of the Currency, it currently stands at $180 Trillion. Let's see the government bail us out of that one if it seriously cracks. My prescription for this apocalypse? Since this entire market was formed outside of established legal markets, the president should declare the entire Derivatives market Null and Void. This isn't as crazy as it sounds: remember, for every buyer there is a seller, so this would balance out to zero if all bets were declared invalid. We are not at this financial armageddon yet, but the next president may find himself with a Great Depression scenario, and FDR's options. This is one of them.
Note: Comments are screened, and in some cases edited, before posting. We reserve the right to reject anything we find objectionable.
Other reader comments on this article
Comment
By
Date
"Hence, the GSEs expose the federal taxpayer to an ever-increasing potential contingent liability that could ultimately cost tens of billions... [MORE]
Vern McKinley
Sep 11, 2008 09:26
The completely unregulated Derivatives market beats them all in the numbers contest. According to the U.S. Office of the Comptroller...
ssbaker305@yahoo.com
Sep 9, 2008 11:58
Why not look at the CEOs of these famed institutions now and past and see how well these so called... [MORE]