A Look at Wall Street's 'Shadow Market'

A Look at Wall Street's 'Shadow Market'

www.cbsnews.com

(CBS) How big is the market for credit default swaps?

Says Partnoy, "Well, we really don't know. There's this voluntary survey that claims that the market is in the range of 50 to 60 or so trillion dollars. It's sort of alarming that, in a market that big, we don't even know how big it is to within, say, $10 trillion."

"Sixty trillion dollars. I know it seems incredible. It's four times the size of the U.S. debt. But that's the size of the market according to these voluntary reports," says Partnoy.

He says this market is almost entirely unregulated.

The result is a huge shadow market that may control our financial destiny, and yet the details of these private insurance contracts are hidden from the public, from stockholders and federal regulators. No one knows what they cover, who owns them, and whether or not they have the money to pay them off.

(visit the link for the full news article)

Ahhh, just how deep does the greed-mongering rabbit hole go?

Knowing who REALLY controls our government and dictates policy, was THIS the "secret government" Ron Paul was speaking of?:

www.abovetopsecret.com...

So, if all of these shadow orgs are secretly running ops behind the scenes and off the books, then even TEN TRILLION dollars injected into the market may not even make a dent into the damage that has been done!

There is something very unnerving going on behind this, and I'm not sure we have even scratched the surface of it all...

www.cbsnews.com
(visit the link for the full news article)

This has already been posted.

www.abovetopsecret.com...

Nobody seems interested anyways.

Later,...... Ausable_Bill

[edit on 6-10-2008 by Ausable_Bill]