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Thread: Geithner gives some companies pass on new rules

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    Geithner gives some companies pass on new rules

    Geithner gives some companies pass on new rules

    This is an issue, but there was some information in there that confused the hell out of me.

    The contracts that Geithner carved out account for about $30 trillion of the $600 trillion global market for over-the-counter derivatives, Treasury said. The new, tougher rules will apply to currency swaps, options and other contracts used for similar purposes.
    That is a typo right? I mean, thats 10x World GDP...and in any case, $30 trillion...even if it was $3 trillion, the derivatives market is f**king huge. The crap's going to hit the fan again, and if its this big (and its going to keep getting larger), we are in for a s**t storm.

    EDIT: It wasn't a typo, http://en.wikipedia.org/wiki/Derivatives_market
    Last edited by repeter; 04-29-11 at 06:55 PM.
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    Quote Originally Posted by repeter View Post
    Geithner gives some companies pass on new rules

    This is an issue, but there was some information in there that confused the hell out of me.



    That is a typo right? I mean, thats 10x World GDP...and in any case, $30 trillion...even if it was $3 trillion, the derivatives market is f**king huge. The crap's going to hit the fan again, and if its this big (and its going to keep getting larger), we are in for a s**t storm.

    EDIT: It wasn't a typo, http://en.wikipedia.org/wiki/Derivatives_market
    Umm... New York times once called the derivative market at 600 trillion.

    Of course he's going to give an exception to the rules to his friends. Rules are for the "little people".

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