The wild coast of Bohemia

When I read about these a few months ago I found the figures hard to comprehend. They make the sub-prime thing look like chickenfeed. I suppose the only optimistic note is that by the time this fully hits there won't be many banks that aren't under government wings (or entirely taken over).

 

We live in strange times. This is a good video for getting a quick understanding of the basics of CDSs:

 

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