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I would be amazed if hedge funds weren't massively punting the market right now.

I believe that there is a significant risk of an energy market "discontinuity" that could cause major problems for energy clearing houses if all of these punters rush for an exit that isn't there.

Clearing Houses are under-capitalised for the actual risks that they take on IMHO, and constitute "single points of failure".

I guess they take the view that governments would step in and bail them out.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Wed Nov 7th, 2007 at 04:57:51 AM EST
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