Never heard of the unregulated Credit Default Insurance Market? It may be next to implode AND it’s worth over (sit down) $45.5 Trillion.

Credit Default Insurance

I had thought the worst news of the day might carry over from the rigged elections in Pakistan but it might instead be this horror story. Living on the Upper East Side my first instinct was to see if any bodies were falling past my window.

You may do the same. Even worse, you might be the falling body.

In the New York Times.

Go to Original

How do they keep stories like this off the front page?

This entry was posted on Sunday, February 17th, 2008 at 12:59 pm and is filed under (52) Trade & Globalization, (30) Issues, (04) Latest News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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