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.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.
EDIT: It wasn't a typo, http://en.wikipedia.org/wiki/Derivatives_market