CDS Trader comes clean

Attached is a Utube video I picked up from another site. It talks about Credit Default Swaps(CDS) and the International Swaps and Derivatives Association (ISDA), which is governed by a group of banksters. Recently, the ISDA acknowledged a Default event had occured with respect to Greek bonds and a paper payout should on the way. I don’t think that will happen again, just ask John Corzine.

Below is a link from the ISDA stats that indicates “The total combined notional amount outstanding of interest rate, credit, and equity derivatives at June 30, 2010 was $466.8 trillion”.

http://www.isda.org/statistics/recent.html#2010mid

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