Bob Simon on NPR: Paraphrase
I ask everyone about this because it's just something that my mind can't grasp, that the total value of credit default swaps is more than $50 trillion (you heard that right), more than the value of the total world output in a year.
So the guy says well, if you do some fancy analysis he doesn't explain, it's really about 1 trillion, but in the end no one really knows.
Former SEC chairman Wm. Donaldson.
I have created a new "label" category in honor of this historic day. The category is JFC, Jesus Fucking Christ.
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