• This is a political forum that is non-biased/non-partisan and treats every person's position on topics equally. This debate forum is not aligned to any political party. In today's politics, many ideas are split between and even within all the political parties. Often we find ourselves agreeing on one platform but some topics break our mold. We are here to discuss them in a civil political debate. If this is your first visit to our political forums, be sure to check out the RULES. Registering for debate politics is necessary before posting. Register today to participate - it's free!

Geithner gives some companies pass on new rules

repeter

repeter

DP Veteran
Joined
Apr 2, 2009
Messages
3,445
Reaction score
682
Location
California
Gender
Male
Political Leaning
Centrist
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.
Click to expand...

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:
repeter said:
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
Click to expand...

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".
 
You must log in or register to reply here.
Back
Top Bottom