Allan and Daniel good responses. The 600 trillion was a number that I heard on Friday but again, I am a pup when it comes to derivatives. The point is that derivatives are all encompassing and have to do with pretty much…. well pretty much everything. Also I am far from the sky is falling type of poster and like to learn about things before I run and hide from them. To me, ACA, MBIA and Ambac falling apart is small potatoes but noteworthy. I was reading that Buffet will stick to insuring munis and safe stuff and will steer clear of the dung.
Anyways like I said I was surprised nobody posted this stuff because to me it is pretty interesting. Also MBIA and Ambac need to come up with a billion by the end of January or they get downgraded.
