"If all the top 25 financial institutions were put into receivership, and (big if) if they all could be liquidated under an agreed legal framework, many of these risky contracts could be allowed to offset each other, and much of the risk eliminated."
Private correspondence, Numerian, The Agonist, Sept. 21, 2008
END
Permission granted to reproduce this article in whole or in part with attribution of authorship, a link to this article, and acknowledgment of any images.
For more information see:
It's the Derivatives, Stupid! Why Fannie, Freddie and AIG Had to Be Bailed Out by Ellen Brown, Sept. 18, 2008
Letter to my Senator by Numerian, The Agonist, Sept. 21, 2008
The Coming Disaster in the Derivatives Market by Michael Panzer, Nov. 9, 2005
AIG's Dangerous Collapse & A Credit Derivatives Risk Primer by Daniel R. Ammerman, CFA, Sept. 17, 2008
LEAP/E2020 Summer 2008 Alert - July-December 2008: The world plunges into the heart of the global systemic crisis. Global Europe Anticipation Bulletin, Summer, 2008
