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Golem (David Malone) writes:

"The total assets under management which I was able to compile from publicly available figures is €20,871,150,000,000.   That is an underestimate because the bond holders who turn out to be Private and Swiss banks don't publish any figures.  So Anglo Irish's 'bond holders' hold and invest MORE than 20.8 trillion euros.  Guido lists those bond holders as holding between them 4 Billion euros in Anglo Irish bonds."

He's talking about CDOs and CDSs, so I think those amounts are US trillions or EU billions.

He's not innumerate or illiterate at all.

From Wikipedia:

Total over-the-counter (OTC) derivative notional value rose to $683 trillion by June 2008.

http://en.wikipedia.org/wiki/Financial_crisis_of_2007-2010

by kukute on Sat Nov 27th, 2010 at 11:55:55 AM EST
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