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Global banks brace for derivative blow-up

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SO here we are on the morning of D Day. The world's major couterparties on the $US455 trillion derivatives market go into technical default and no one is sure what is going to happen. Of Wall Street's big five independents, only two are now left standing, Goldman Sachs and Morgan Stanley.
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At www.theaustralian.news.com.au

 

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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.

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