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To: Fee

If you make a $10 bet on the Cubs game, the nominal value of your derivative is over $1 billion. If you lose your bet, does your bank need to start printing money?


127 posted on 06/15/2012 6:25:10 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

It is more like going to London banker, tell them you want to make a 1 billion dollar bet on the Cubs, but you will put 10 dollars down and owe the rest if you lose. Problem if you do lose, you go to the US gov and tell them that you are about to go bankrupt and drag down the US economy unless Congress assumes the debt and dump it on the taxpayers. This is call Wall Street Banker blackmail.


129 posted on 06/15/2012 7:11:56 AM PDT by Fee
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