West has to deal with toxic debt to end recession

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De Soto said: "This toxic debt is the elephant in the room and solving the problem is the missing link to getting the world economy moving again. Until we know what proportion of the estimated $600trn [ �400trn] of derivative contracts is toxic, then credit markets will remain in a state of chronic paralysis."

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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

Related Topic(s): Credit; Debt Monetary System; Debtor Nation; Markets; Toxic Loans, Add Tags

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