[tcrlaf]

Deutchebank is holding over 57 TRILLION dollars in Credit Default Swaps related to Greek Debts.

[oblomov]

>>57 TRILLION dollars in Credit Default Swaps related to Greek Debts.

So somebody may actually make money from a default. The $57T is nominal value. There are two sides to every CDS trade.

I’d caution FReepers entering new shorts here.

You can make money if you are nimble, but I think the easy money has been made.

JMHO.

[Mariner]

"Deutchebank is holding over 57 TRILLION dollars in Credit Default Swaps related to Greek Debts"

If there is sufficient liquidity those swaps will balance out over the medium term, excepting the original losses.

But I don't think the ECB could muster the 6-8 trillion to maintain that liquidity...and so far, nobody know how to suck it back up either.

Including the Fed.

[RKBA Democrat]

Just a flesh wound...

[Billthedrill]

Deutchebank is holding over 57 TRILLION dollars in Credit Default Swaps related to Greek Debts.

Yeah, that's gonna leave a mark no matter how this thing bounces. BTT